A private equity firm has expanded its reach in the New Jersey commercial real estate sector, announcing a $35 million loan for a two-building office portfolio in Essex County.
The owner of a 132-unit luxury apartment building in Jersey City has refinanced for $45 million, in one of several recently announced loans by Investors Bank.
With nearly a dozen acquisitions and more than $750 million in combined investment — all since spring 2018 — The Birch Group is exceedingly bullish on northern New Jersey’s office market and the expected return to work in top-tier locations.
Mack-Cali Realty Corp. has sold four office buildings in Short Hills for $255 million, in a deal that marks another addition to the buyer’s fast-growing portfolio in New Jersey.
Vacancy in the northern New Jersey office market grew for four straight quarters in 2020, even as a handful of industries showed the ability to withstand the effects of pandemic.
Investors have sold a 100-unit luxury apartment building in New York’s Westchester County for more than $32 million, in a deal by Walker & Dunlop’s New Jersey-based brokerage team.
Investors Bank has closed nearly a dozen commercial real estate loans valued at $227 million in recent months, including more than $90 million in transactions for its New Jersey clients.
Mack-Cali Realty Corp. will largely stay the course for now, its interim CEO said this week, with a continued focus on selling its suburban office buildings and stabilizing its waterfront portfolio as it searches for a permanent chief executive.
A new survey has found that many workers are looking forward to going back to the office, but remain concerned about getting sick and not having enough personal space.