Residential & Mixed Use

The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.

Residential & Mixed Use
Kamson sells 190-unit rental portfolio in Gloucester, Bergen for $31 million, Kislak says

Affiliates of The Kamson Corp. have sold a combined 190 apartments in Gloucester and Bergen counties for $31 million, in an off-market deal arranged by The Kislak Co. Inc.

Finance & Capital Markets
CBRE: Fernmore snags $48 million bridge loan for 274-unit Pennsylvania rental project

Fernmore Homes has landed nearly $48 million in bridge financing for a new 274-unit luxury rental property in Pennsylvania’s Chester County, brokers with CBRE announced Tuesday.

Residential & Mixed Use
Advance, growing footprint in Hoboken’s North End, breaks ground on 52-unit rental project

Advance Realty Investors has broken ground on a project that will bring 52 new luxury apartments to a key intersection in Hoboken’s growing North End.

Residential & Mixed Use
JLL seeking buyer for 406-unit luxury rental property at Wood-Ridge’s Wesmont Station

A developer is looking to sell a 406-unit luxury apartment complex in Wood-Ridge, providing would-be buyers with a chance to own part of the landmark Wesmont Station property.

People
Denholtz adds Paschal, Kostakis in key acquisitions and development roles

Denholtz Properties has deepened its bench with the addition of Paul Paschal as director of acquisitions for the Mid-Atlantic and Southeast and Kyle Kostakis as development manager.

Retail
Playa Bowls takes 1,900 sq. ft. at new Petrucci-built luxury rental building in East Orange

J.G. Petrucci Co. Inc. has welcomed Playa Bowls to a ground-floor retail space at The Station at East Orange, a 172-unit luxury apartment complex that opened its doors last year.

Government & Public Policy
Superior Court sets key date for arguments on new N.J. affordable housing obligations

A state Superior Court judge has set a date for oral arguments on whether to halt adoption of new affordable housing obligations for New Jersey’s 564 municipalities, following a legal challenge by more than 20 towns to recent guidelines from the Department of Community Affairs.

Residential & Mixed Use
KRE, National unveil third tower at Journal Squared to conclude pioneering, 1,840-unit project in historic Jersey City neighborhood

Kushner Real Estate Group has debuted the third and final piece of Journal Squared, the collection of more than 1,800 luxury apartments that’s widely seen as a main catalyst for the decade-long development boom in Jersey City’s historic commercial district.

Editor’s Note
Transition time

I’ve come to learn that stories in our People on the Move section are among our most popular online and in print. I understand why — relationships in commercial real estate go back years or decades in many cases, meaning there’s no shortage of interest when a friend or business partner earns a promotion or a position at a new firm. That’s especially true when it comes to developers and owners, as I was reminded earlier this year when we covered two major moves by Accordia.

Retail
Veris-, Woodmont-led venture sells 50,000 sq. ft. Morristown retail asset to Winfield Properties

A joint venture led by Veris Residential Inc. and Woodmont Properties has sold nearly 50,000 square feet of retail space in downtown Morristown, brokers with JLL announced Friday.