Russo Development has delivered more than 500 apartments in Kearny since mid-2018, with hundreds more in its pipeline, seeing an opportunity in a town that is minutes from downtown Newark and the ability to capture renters who are priced out of neighboring submarkets.
Russo Development has embarked on its third residential property in Kearny, hailing the start of a 268-unit project at the former site of baseball bat factory.
G.S. Wilcox & Co. is touting $170 million in recent loan activity with one of its correspondent lenders, including $100 million for two northern New Jersey apartment developers.
Russo Development has completed its acquisition of a former industrial site in Kearny that will allow it to extend its multifamily pipeline in the town, brokers with Cushman & Wakefield said.
Russo Development has delivered another 280 apartments in Kearny, completing the first of two phases at its newest residential project in the town.