JLL, Progress Capital source $114 million loan for Newark office, parking portfolio

A joint venture has landed a nearly $114 million loan to purchase and reposition two office buildings and a parking garage in downtown Newark, according to a debt advisory team.

Investment team buys Newark office buildings, parking garage for $80 million

An investment group has acquired two office buildings and a parking garage in downtown Newark for $80 million, with plans to spend another $70 million to reposition the properties.

Making a market: Developers, city officials look ahead as renters arrive in downtown Newark

A new stock of luxury, market-rate apartments is beginning to take shape in downtown Newark, where stakeholders hope to attract the type of rental population that can create a 24-hour, seven-day neighborhood that has long eluded the central business district.

Developers say they’re encouraged by the early returns, but are preparing for the market to be tested by larger-scale projects and an influx of additional units. City officials are also preparing for what could be a dramatic uptick in interest from builders — which they will have to balance with public policy goals such as expanding affordable housing for Newark residents.

Hollister kicks off Newark hospital rehab, arts hub for nonprofit (SLIDESHOW)

A nonprofit focused on education through glassmaking will anchor a historic hospital building in Newark that is now being restored as a creative hub for arts and sciences.