Page 18 - RE-NJ

16 WINTER 2025
mixed-use property with 9,300
square feet of retail space at 100
South Washington Ave. in Dunellen,
to MB Dental Care. Stephen Battista
of Jeffery Realty represented the
landlord.
DAVID BRANCH JIU JITSU leased
2,111 square feet at Pine Brook
Plaza, a 7,941-square-foot property
at 6 Route 46 in the Pine Brook
section of Montville. Kevin Pelio of
Azarian Realty Co. represented the
landlord, while SABRE Real Estate
represented the tenant.
FOGO DE CHÃO leased a pad site at
Route 1 and Carnegie Center Drive
in West Windsor. Zoltek Commercial
Real Estate Services’ Matt Ardizzone
represented the landlord.
HOSPITALITY
RIVERLINK HOTELS sold the Courtyard
by Marriott Wayne Fairfi eld, a 122-
room hotel at 263 Route 46 in Wayne,
to Concord Hospitality. JLL’s Phil
White represented the seller, while
the fi rm’s Jillian Mariutti arranged
acquisition fi nancing through M&T
Bank.
RELIGIOUS
A private entity sold 270 Everett
Road, a 15.4-acre church property in
Lincroft, for $5.2 million. Neil Barone
of Barone Commercial Resources
LLC represented the seller.
FINANCE
PGIM originated a $285.7 million
bridge loan to Capodagli Property
Co. in connection with a 1,014-unit
apartment portfolio in South Orange,
Pompton Lakes, Linden and Little
Ferry. Greystone’s Drew Fletcher
advised on the transaction.
S3 CAPITAL closed a $255 million
construction loan to The Maxal
Group, the developer of a planned
25-story, 381-unit apartment tower at
615 River Road in Edgewater. Galaxy
Capital brokered the fi nancing.
TPG REAL ESTATE CREDIT provided a
$65.4 million bridge loan to PCCP
LLC and Stonemont Financial
Group in connection with a new
295,506-square-foot industrial
development at 122 8th St. in Passaic.
INVICTUS REAL ESTATE PARTNERS
provided a $60 million construction
loan to Ramani Group for a planned
266-unit apartment building and
10,000 square feet of retail space
at 401 East 3rd St. in Plainfi eld.
Cushman & Wakefi eld’s Brian
Anderson arranged the fi nancing.
DEUTSCHE BANK close a $22.5 million
loan to Bergman Real Estate Group
to refi nance 365 West Passaic St., a
218,500-square-foot offi ce building
in Rochelle Park. Cushman &
Wakefi eld’s Brian Anderson and
Eddie Miro advised the borrower
in securing the fi ve-year, fi xed-rate
fi nancing.
TRUIST BANK originated
construction fi nancing to Marcus
Partners for a 72,000-square-foot
industrial development at 35 South
Jefferson Road in Hanover. JLL’s
Michael Klein and Michael Lachs
sourced the four-year loan with a
one-year extension.
A life insurance company provided
permanent fi nancing to Vertical
Realty Capital and Maybern Realty,
the developers of a new 67-unit
luxury apartment building at 619
North Maple Ave. in Ho-Ho-Kus. JLL’s
Jon Mikula, Max Custer and Michael
Donohoe brokered the seven-year,
fi xed-rate loan on the borrower’s
behalf.
A life insurance company originated
a $17.8 million loan to National
Realty & Development Corp. for Old
Colony Square, a 99,973-square-foot
shopping center at 420 Grand St. in
Jersey City. Brandon Szwalbenest,
Andrew Stewart and Dev Morris of
Cronheim Mortgage sourced the
loan with a fi ve-year term, 30-year
amortization and a fi xed interest rate
of 5.89 percent.
NATIONAL LIFE GROUP provided a
$15.4 million refi nancing loan to The
Hampshire Cos. for The Clair, a new
40-unit luxury apartment building
at 37 Orange Road in Montclair.
JLL’s Michael Klein, Jon Mikula
and Michael Donohoe sourced the
fi ve-year, fi xed-rate loan on the
borrower’s behalf.
KENNEDY FUNDING closed a $2.85
million land loan to the developer
of a project at 270 and 299 Irvington
Ave. in South Orange with 61
apartments and 22,755 square feet of
commercial space. RE