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
New Jersey-based JLL team inks $146 million sale of Long Island luxury rental complex

A development team has sold a newly built, 260-unit apartment property on Long Island for $146 million, in a deal by JLL’s Morristown-based capital markets team.

Residential & Mixed Use
Kislak: Brooklyn buyers acquire 49 units in Asbury Park for $5.9 million

An apartment investor has added 59 units with its purchase of two properties in Asbury Park, in a nearly $6 million deal arranged by The Kislak Co. Inc.

Residential & Mixed Use
Blau & Berg inks sale of Orange parcels for 410-unit Russo, Dinallo project

A development team has closed on two parcels in Orange to complete the site of a planned 410-unit multifamily project, brokers with The Blau & Berg Co. said.

Finance & Capital Markets
Summit apartment owner secures $11.5 million loan, refis 37-unit complex

The owner of a 37-unit luxury apartment complex in downtown Summit has refinanced the property for $11.5 million, in a newly announced deal by JLL.

Office
NAI Fennelly inks sale of 6,600 sq. ft. office, apartment building in Mercer

A real estate firm has sold a 6,600-square-foot office and residential building outside Princeton, in a newly completed transaction by NAI Fennelly.

Finance & Capital Markets
Hampshire lands $29 million construction loan for 85-unit Morristown rental project, JLL says

The Hampshire Cos. is proceeding with a new 85-unit luxury apartment building in Morristown with the help of a nearly $29 million construction loan, in a newly announced deal by JLL.

Residential & Mixed Use
Larken debuts clubhouse at 191-unit upscale rental property in Hillsborough

Larken Associates has unveiled a new clubhouse at a 191-unit residential property in Hillsborough, marking the latest piece of a project in its final stages of construction.

Finance & Capital Markets
Progress Capital sources $14 million refi loan for new Journal Square apartments

The owner of a new 79-unit apartment building in Jersey City has refinanced the property for $14 million, according to a debt placement team with Progress Capital.

People
Veris Residential taps new CIO, general counsel to succeed departing Cardoso, Wagner

Veris Residential Inc. has named a new chief investment officer and general counsel to succeed two longtime executives at the former Mack-Cali Realty Corp.

Residential & Mixed Use
Montclair apartment building sold after 52 years, fetching $38 million, Gebroe-Hammer says

The owner of a well-known, 133-unit apartment building in Montclair has sold the property after more than five decades, in a $38 million deal arranged by Gebroe-Hammer Associates.