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.

Murphy calls for five-year phaseout of liquor license cap, tax credit for existing holders

Gov. Phil Murphy has revealed new details of a proposal to update the state’s decades-old liquor licensing program, seeking to balance new economic growth with the interests of existing operators.

Veris Residential adds Madison International, Bozzuto execs as directors

Veris Residential Inc. has tapped top executives with Madison International Realty and Bozzuto Management Co. as its newest independent directors.

BNE hires new director of acquisitions, eyeing continued growth in tristate region

BNE Real Estate Group has named a new director of acquisitions, as the family-owned firm looks to build its development pipeline in the tristate area.

Prism debuts two new apartment buildings at 252-unit Dunellen project

Prism Capital Partners has completed two additional buildings at a luxury residential development across from the Dunellen train station.

Veris sells Port Imperial hotels for $97 million, completing exit from hospitality sector

Veris Residential Inc. has completed its exit from the hotel business after selling two Weehawken properties for a combined $97 million, the company announced this week.

Cervelli marketing 2,900 sq. ft. restaurant, retail space at new Jersey City building

A developer has hired Cervelli Real Estate as its leasing agent for a soon-to-be-complete restaurant and retail space in Jersey City’s McGinley Square neighborhood.

Growth story

As you’ll read in this month’s cover story, Accurate has been prolific in filling its development pipeline, moving decisively to secure new projects in the state and elsewhere. It now has construction underway, approvals in place or sites under control to build another roughly 6,400 apartments and townhomes, including more than 4,000 units in Newark, where it’s leading the sweeping redevelopment of the former Riverfront Stadium property.

Eider promoted to vice president investments with Marcus & Millichap

Marcus & Millichap has promoted one of its leading brokers in New Jersey to the position of vice president investments.

Saxum lands $78 million construction loan for Philly rental project, in JLL-brokered deal

Saxum Real Estate has closed on nearly $78 million in financing for the first piece of what will be 466 new luxury apartments in Philadelphia’s growing Northern Liberties neighborhood.

Park Stone, Fields Grade ink $37 million refi of new 99-unit Journal Square rental building

The developers of a new 99-unit luxury apartment building in Jersey City’s fast-growing Journal Square neighborhood have refinanced the property for $37 million.