IDB Bank, TAY Investments close $31 million bridge loan for 155-unit Newark rental property

IDB Bank has closed a $31 million bridge loan for a newly completed, 155-unit apartment building in Newark’s Central Ward.

Deugen sells new 48,000 sq. ft. warehouse in East Rutherford after successful redevelopment

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.

Iron Hill golf outing raises $382,000 in 2023, its 20th year supporting military veterans, families

Nearly two dozen organizations supporting veterans, military personnel and their families are benefiting this year with the help of a golf outing that recently marked its 20th year, drawing broad support from companies across the state’s commercial real estate sector.

MSW adds Gilson, Kim to growing commercial real estate team

Murphy Schiller & Wilkes LLP has expanded its commercial real estate practice with the addition of Matthew E. Gilson and Brian Kim.

Ridgecut, Marcus Partners ink $9 million refi for South Plainfield industrial parcel, C&W says

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 closes on 19-acre parcel in Denville, eyes 119,000 sq. ft. industrial project

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.

MSW expands commercial real estate practice with three newly added attorneys

Murphy Schiller & Wilkes LLP has announced the addition of three attorneys to its growing commercial real estate practice.

Developer acquires 240,000 sq. ft. Trenton office tower, eyes conversion to multifamily

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.

Developer lands $90 million Aspire tax credit award for 350-unit Newark rental project

A developer has secured a $90 million tax credit award for its plan to build a 14-story, 350-unit apartment building just south of Newark’s Broad Street station.

Greater sunshine ahead or an incoming storm? Preparing for corporate transparency act compliance in 2024

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.