IDB Bank has closed a $31 million bridge loan for a newly completed, 155-unit apartment building in Newark’s Central Ward.
Deugen Development has sold a nearly 48,000-square-foot industrial building in East Rutherford, in the culmination of a redevelopment plan that began less than three years ago.
Murphy Schiller & Wilkes LLP has expanded its commercial real estate practice with the addition of Matthew E. Gilson and Brian Kim.
A joint venture has secured nearly $9 million in financing for an industrial outdoor storage property in South Plainfield, in a deal arranged by Cushman & Wakefield.
Cervenka Development Partners has acquired a 19-acre parcel in Denville that it plans to develop as nearly 120,000 square feet of modern logistics space, the firm announced Thursday.
Murphy Schiller & Wilkes LLP has announced the addition of three attorneys to its growing commercial real estate practice.
The buyer of a 240,000-square-foot office building in downtown Trenton has secured a $4.5 million acquisition loan, in a deal arranged by Maverick Commercial Mortgage Inc.
For decades, the real estate industry has been particularly adept at using various corporate structures such as limited liability companies, limited partnerships and corporations in order to maximize the numerous liability and privacy protections and tax benefits afforded to such businesses. Commencing Jan. 1, 2024, however, many U.S. businesses will be required to disclose (and update) information with respect to their beneficial ownership to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) pursuant to the Corporate Transparency Act (the CTA), giving rise to many privacy and regulatory concerns.
The CTA will apply to tens of millions of new and existing businesses throughout the country, including many real estate businesses, individual and family investment vehicles, and smaller private companies and joint ventures.