REBusinessOnline

NRP Group Opens 131-Unit Sawyer Apartments in Jersey City

JERSEY CITY, N.J. — Cleveland-based developer The NRP Group has opened The Sawyer, a 131-unit apartment complex in Jersey City. Units come in studio, one- and two-bedroom formats. Amenities include a fitness center, rooftop terrace, a children’s playroom, outdoor grilling and dining areas and a pet spa. NRP Group developed the project in partnership with Hoboken Brownstone Co. Monthly rents start at approximately $2,150 for a studio

IPA Negotiates $18M Sale of Shopping Center in Pennsauken, New Jersey

PENNSAUKEN, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $18 million sale of The Point at Pennsauken, a 109,217-square-foot shopping center in Southern New Jersey. Anchored by convenience store Wawa, the property was 100 percent leased at the time of sale. Brad Nathanson of IPA represented the seller, WRDC, in the transaction and procured the buyer, Florida-based Select Properties

Greystone Arranges $30M Construction Loan for Jersey City Multifamily Project

JERSEY CITY, N.J. — Greystone has arranged a $30 million construction loan for 40 Center, a six-sttory, 80-unit multifamily project in Jersey City that will include 3,200 square feet of ground-floor commercial space. White Oak Real Estate Capital provided the loan to the developer, affiliates of The Manhattan Building Co. Drew Fletcher, Matthew Hirsch and Bryan Grover of Greystone arranged the debt. A tentative construction completion date was not

JLL Arranges $35.9M Loan for Refinancing of Hoboken Apartment Complex

HOBOKEN, N.J. — JLL has arranged a $35.9 million loan for the refinancing of Hudson Square North, a 150-unit apartment complex located outside of New York City in Hoboken. The transit-oriented property offers one-, two- and three-bedroom units that average 890 square feet and are furnished with washers and dryers, stainless steel appliances and quartz countertops, as well as 2,739 square feet of retail space. Thomas Didio, Thomas Didio Jr., Carlos Silva and Salvatore Buzzerio of JLL arranged …

JLL Arranges $110M Permanent Loan for Newark Warehouse, Distribution Center

NEWARK, N.J. — JLL has arranged a $110 million permanent loan for an 850,000-square-foot warehouse and distribution center in Newark. Thomas Didio, Thomas Didio Jr. and Ryan Carroll of JLL arranged the nonrecourse loan, which carried a fixed interest rate and a 15-year term, through a correspondent life insurance company. The borrower was not

CBRE Brokers $30.7M Sale of Industrial Redevelopment Site in Somerset, New Jersey

SOMERSET, N.J. — CBRE has brokered the $30.7 million sale of a 15-acre site in Somerset, located in the northern-central part of the Garden State, that currently houses a 209,000-square-foot office building. The undisclosed buyer plans to redevelop the property, which was built in 1986, into a warehouse and distribution center. Mark Silverman, Elli Klapper, Charles Berger, Jeremy Wernick and Kevin Dudley of CBRE represented the buyer in the transaction. The seller was also not

Tryko Partners Acquires Two Seniors Housing Communities in Little Egg Harbor, New Jersey

LITTLE EGG HARBOR, N.J. — Tryko Partners has acquired two seniors housing communities in Little Egg Harbor, located near the Jersey Shore. Seacrest Village is a 171-bed, three-story skilled nursing facility that was developed in 1985. The Terraces, built in 2013, is a two-story, Class A assisted living and memory care community. The assets were family owned and operated for more than three

CBRE Brokers $36.5M Sale of Multifamily Property in Newark

NEWARK, N.J. — CBRE has brokered the $36.5 million sale of 24 Jones, a 152-unit multifamily property located in Newark’s University Heights neighborhood. Built in 2016, the property offers studio, one- and two-bedroom units and amenities such as a fitness center, lounge, outdoor grilling stations and concierge services. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE represented the seller, Tucker Development, in the transaction. The team …

Devli Real Estate Buys 175,000 SF Industrial Facility in East Rutherford, New Jersey

EAST RUTHERFORD, N.J. — Locally based investment firm Devli Real Estate has purchased a 175,000-square-foot industrial facility in East Rutherford, located in Northern New Jersey. The facility sits on a six-acre site within The Meadowlands submarket. Devli Real Estate will lease back the space to the undisclosed seller/tenant on a short-term basis. Yanni Marmarou of B6 Real Estate brokered the transaction. Michael Klein and Max Custer of JLL arranged acquisition financing through First Bank …

Northmarq Provides $32.5M Agency Refinancing of Hoboken Affordable Housing Property

HOBOKEN, N.J. — Northmarq has provided a $32.5 million Freddie Mac loan for the refinancing of Westview Apartments, 116-unit affordable housing property in Hoboken, located outside of New York City. The property at 55-75 Bloomfield St. was originally built in 1905 and renovated in 1995. The unit mix consists of 63 one-bedroom apartments, 39 two-bedroom units and 14 three-bedroom residences. Gary Cohen of Northmarq originated the loan, which carried a 10-year term and a 30-year amortization …

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