TruAmerica Acquires Two Apartment Communities Totaling 269 Units in Metro Boston

ANDOVER AND STOUGHTON, MASS. — Los Angeles-based investment firm TruAmerica Multifamily has acquired Marquee at Andover and Lux at Stoughton, two apartment communities totaling 269 units in metro Boston. The properties, which were purchased in two separate transactions, respectively total 115 and 154 units. The sellers were not disclosed. TruAmerica plans to implement a value-add program focused on unit interiors and amenity spaces. Chris Phaneuf of JLL represented the seller in the Andover …

September 24, 2021Acquisitions, Massachusetts, Multifamily, Northeast

EverWest Real Estate Buys Queens Warehouse from Wharton Industrial for $57.2M

NEW YORK CITY — Denver-based investment firm EverWest Real Estate Investors has purchased a 70,500-square-foot warehouse in Queens from Wharton Industrial for $57.2 million. The rear-load facility features a clear height of 30 feet and is situated on a 2.9-acre site in the Maspeth neighborhood. Mo Beler, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland and Michael Diaz of Walker & Dunlop represented Wharton Industrial in the deal. Stephen Feinberg represented EverWest on an …

September 24, 2021Acquisitions, Industrial, New York, Northeast

Greystone Arranges $45.3M Loan for Refinancing of Northern New Jersey Apartments

MIDDLESEX, N.J. — Greystone has arranged a $45.3 million loan for the refinancing of The View at Middlesex, a newly built, 200-unit apartment complex in Northern New Jersey. The property consists of 160 one-bedroom units, 40 two-bedroom units and 7,700 square feet of retail space. Amenities include a fitness center, lounge areas, a game room, pool and a roof deck. Benefit Street Partners Realty Trust provided the loan, which retires the construction financing originated by Procida Funding in …

September 24, 2021Loans, Multifamily, New Jersey, Northeast

SVN | Parsons Commercial Group Negotiates Sale of 60,000 SF Industrial Building Near Boston

ANDOVER, MASS. — SVN | Parsons Commercial Group has arranged the sale of a 60,000-square-foot industrial building in the northern Boston suburb of Andover. The sales price was $10.3 million. The property sits on 4.7 acres and will be available for lease next fall for the first time in more than 20 years. Alex Berger and Matt Quinlan of SVN represented the seller, Stickamayka Group LLC, in the transaction. The duo also procured the buyer, a joint venture between Boston-based Oliver Street …

September 24, 2021Acquisitions, Industrial, Massachusetts, Northeast

OGS Recycling Signs 34,801 SF Industrial Lease in Eatontown, New Jersey

EATONTOWN, N.J. — OGS Recycling has signed a 34,801-square-foot industrial lease in Eatontown, located near the Jersey Shore. The building at 246 Industrial Way offers proximity to the Garden State Parkway, as well as a clear height of 30 feet and eight loading docks. Matt Leonelli of Sheldon Gross Realty represented the undisclosed landlord in the lease negotiations. David Zimmel of Zimmel Associates represented the

September 24, 2021Industrial, Leasing Activity, New Jersey, Northeast

Grubb Properties to Develop 50-Story Affordable Housing Building in Manhattan’s Financial District

NEW YORK CITY — Charlotte, N.C.-based Grubb Properties will develop 8 Carlisle, a 50-story apartment building that will be located in Manhattan’s Financial District. Grubb Properties acquired the site from New York-based Pink Stone Capital Group, which purchased it in 2011 and helped assemble the air rights and construction permits as Grubb’s development service partner. In addition to 22,000 square feet of retail space, the property will feature 400 units that will be operated under …

September 23, 2021Affordable Housing, Development, Multifamily, New York, Northeast

Tulfra Real Estate Acquires Land in Jersey City for 2,422-Unit Self-Storage Project

JERSEY CITY, N.J. — Locally based developer Tulfra Real Estate has acquired land in Jersey City for the construction of a 2,422-unit self-storage project. The facility will be located at 300 Thomas McGovern Drive and will have a gross square footage of approximately 261,000 square feet, including an adjoining parking structure will also be constructed as part of the project. Thomas Walsh of Walker & Dunlop brokered the land deal. A groundbreaking date will be announced in the coming days. …

September 23, 2021Development, Industrial, New Jersey, Northeast, Self-Storage

Vango Development Receives Approval for 60-Unit Multifamily Project in Northern New Jersey

RUTHERFORD, N.J. — Vango Development has received site plan approval from the planning board of the Borough of Rutherford, located in the northern part of the Garden State, for a new 60-unit multifamily project. The property, which will be located in the downtown area, represents the second phase of The Parker, a 52-unit complex completed by Vango in 2019. The new four-story building will house a mix of studio, one- and two-bedroom units, as well as 3,000 square feet of ground-floor retail …

September 23, 2021Development, Multifamily, New Jersey, Northeast

JLL Negotiates $35.5M Sale of Metro Boston Office Building

SOMERVILLE, MASS. — JLL has negotiated the $35.5 million sale of a 58,156-square-foot office building in the Boston suburb of Somerville. The three-story building was originally constructed in 1870 and was fully leased to FormLabs, a manufacturer of 3-D printing products and technology, at the time of sale. Coleman Benedict and Scott Carpenter of JLL represented the seller, funds advised by a subsidiary of Columbia Property Trust, in the transaction. The duo also procured the buyer, a …

September 23, 2021Acquisitions, Massachusetts, Northeast, Office

CBRE Arranges $14.3M Sale of Apartment Complex in Ridgewood, New Jersey

RIDGEWOOD, N.J. — CBRE has arranged the $14.3 million sale of The Schoolhouse, a 31-unit apartment complex in the Northern New Jersey community of Ridgewood. The sales price equates to approximately $462,000 per unit. The property was built in stages between 1960 and 1980. Nat Gambuzza and Spencer Beriont of CBRE represented the seller, 158-174 Union Street LLC, in the

September 23, 2021Acquisitions, Multifamily, New Jersey, Northeast

TruAmerica Acquires Two Apartment Communities Totaling 269 Units in Metro Boston

EverWest Real Estate Buys Queens Warehouse from Wharton Industrial for $57.2M

Greystone Arranges $45.3M Loan for Refinancing of Northern New Jersey Apartments

SVN | Parsons Commercial Group Negotiates Sale of 60,000 SF Industrial Building Near Boston

OGS Recycling Signs 34,801 SF Industrial Lease in Eatontown, New Jersey

Grubb Properties to Develop 50-Story Affordable Housing Building in Manhattan’s Financial District

Tulfra Real Estate Acquires Land in Jersey City for 2,422-Unit Self-Storage Project

Vango Development Receives Approval for 60-Unit Multifamily Project in Northern New Jersey

JLL Negotiates $35.5M Sale of Metro Boston Office Building

CBRE Arranges $14.3M Sale of Apartment Complex in Ridgewood, New Jersey

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