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
FM Equities buys 68-unit Orange rental property in $10.8 million deal arranged by Berkadia

Investment firm FM Equities has acquired a 68-unit garden apartment property in Orange for nearly $11 million, according to a listing team with Berkadia.

Residential & Mixed Use
Sentinel buys new 423-unit rental property at key West Orange redevelopment site

Sentinel Real Estate has acquired Stonehill at West Orange, the new 423-unit luxury apartment property that has revived the onetime site of a struggling office park off Interstate 280.

Residential & Mixed Use
TFE acquires Burlington Twp. parcel, eyes 141-unit multifamily development

TFE Properties has unveiled plans to build more than 140 luxury apartments in Burlington Township after acquiring 13 acres roughly a mile from Interstate 295.

Residential & Mixed Use
Value Cos. leases up second phase of new Randolph apartments, breaks ground on third

Value Cos. is continuing its expansion of a sprawling apartment complex in Randolph after leasing up a newly completed phase and starting construction on another.

Residential & Mixed Use
Paramus tract slated for 40 townhomes after changing hands, NAI Hanson says

A developer has acquired four acres in Paramus with plans to build more than three dozen townhomes, brokers with NAI James E. Hanson announced Tuesday.

Residential & Mixed Use
Hyperion, Benenson JV buys 314-unit Cliffside Park rental property for $165 million

A newly formed joint venture has made its first deal, acquiring a 314-unit luxury apartment property in Cliffside Park as part of a $165 million transaction announced Monday.

Editor’s Note
High stakes for CRE

Advocacy is central to a four-year strategic plan that NAIOP New Jersey unveiled at the start of 2025, as are other key goals such as creating new value for NAIOP members and improving the perception that public officials, residents and other outside stakeholders have of the commercial real estate sector. The blueprint also calls for elevating the chapter’s position in the industry, enhancing partnerships with academia and expanding its community service programs.

Residential & Mixed Use
Former ASCO headquarters site in Florham Park sold, slated to become senior housing

The site of a vacant office building in Florham Park is now slated for redevelopment, with plans calling for new senior housing after a sale arranged by Cushman & Wakefield and RePropCo.

People
Cure Breast Cancer Foundation, nonprofit with CRE ties, taps Perkins as executive director

Laela Perkins has stepped into the role of executive director of the Cure Breast Cancer Foundation, a nonprofit with connections to New Jersey’s commercial real estate industry.

Residential & Mixed Use
Leasing at Asbury Park’s SURFHOUSE starts strong as building welcomes first residents

Renters have arrived at a new luxury apartment property in Asbury Park after the launch of leasing by Starfield Cos., the developer that has revitalized large swaths of the city’s waterfront.