REBusinessOnline

Madison Realty Capital Provides $73.5M Loan for Refinancing of New Jersey Commercial Portfolio

NEW YORK CITY — Madison Realty Capital, a New York-based real estate private equity firm, has provided a $73.5 million loan for the refinancing of a portfolio of eight commercial properties in New Jersey. The portfolio consists of an 8.7-acre residential, commercial and self-storage development site in Harrison; three industrial assets in Harrison, Kearny and Boonton; a Class A industrial flex building; a net-leased retail property in Harrison; and two parcels totaling 8.1 acres in Kearny and …

Woodmont, EverWest Acquire 144,551 SF Industrial Facility in South Brunswick, New Jersey

SOUTH BRUNSWICK, N.J. — A partnership between Woodmont Industrial Properties and EverWest Real Estate Investors has acquired a 144,551-square-foot industrial facility in South Brunswick, located in between Trenton and Newark. The property offers proximity to the New Jersey Turnpike and State Route 130. Building features include 22-foot clear heights, 22 dock doors and 120-foot truck court depths. David Blitt of Bussel Realty represented the seller, which has leased back the space on a …

G.S. Wilcox Arranges $6.8M Loan for Refinancing of Office Building in Bridgewater, New Jersey

BRIDGEWATER, N.J. — G.S. Wilcox & Co. has arranged a $6.8 million loan for the refinancing of Greymark at Bridgewater, a 111,500-square-foot office building in Northern New Jersey. According to LoopNet Inc., the three-story property was built in 1985, renovated in 2017 and features a conference facility and onsite food services. David Fryer of G.S. Wilcox originated the loan through an undisclosed lender. The borrower was also

Four Springs Capital Trust Receives $50M Investment From Goldman Sachs to Grow Portfolio

LAKE COMO, N.J. — Four Springs Capital Trust, a private REIT focused on single-tenant industrial, medical, office and retail assets, has received a $50 million investment from Goldman Sachs (NYSE: GS) in the form of preferred stock. New Jersey-based Four Springs Capital will use the funds to provide liquidity to an existing investor and to grow its portfolio, which currently consists of 101 commercial properties totaling 3.6 million square feet across 28 states. As of Dec. 31, 2020, that …

JLL Arranges $89.5M Construction Loan for Harrison Yards Multifamily Project Near Newark

HARRISON, N.J. — JLL has arranged an $89.5 million construction loan to fund completion of Phase I and predevelopment of Phase II of Harrison Yards, a mixed-use project by Eastone Equities located outside of Newark. Phase I, which is nearly complete, features a 205-unit multifamily community with 7,670 square feet of retail space. Phase II will consist of 898 apartment units, 204,709 square feet of commercial space, a 200-key hotel and 1,350 parking spaces. Scott Aiese, Peter Rotchford, Alex …

Walters Nears Completion of 68-Unit Affordable Housing Project in Marlton, New Jersey

MARLTON, N.J. — Walters, a New Jersey-based developer of affordable housing, is nearing completion of Cornerstone at Greentree, a 68-unit income-restricted community for residents age 55 and above in the Southern New Jersey city of Marlton. Units feature full-size washers and dryers, fully equipped kitchens, secure keyless entry and energy-efficient appliances. Communal amenities include a fitness center, Wi-Fi in common areas and onsite management and maintenance. A staffed social services …

Sterling Properties, Wilton Near Completion of 208-Unit Multifamily Project in Northern New Jersey

EAST RUTHERFORD, N.J. — A partnership between developer Sterling Properties and New York City-based Wilton Investment Group is nearing completion of Central & Oak, a 208-unit multifamily project in the Northern New Jersey city of East Rutherford. Units at the multi-building community range in size from 724 to 1,308 square feet and feature stainless steel appliances, quartz countertops, European-style cabinetry, individual washers and dryers and private garages. Communal amenities include …

CBRE Negotiates $21.5M Sale of Industrial Property in Vineland, New Jersey

VINELAND, N.J. — CBRE has negotiated the $21.5 million sale of a 269,000-square-foot industrial property located in the Southern New Jersey city of Vineland. The property is leased to Burberry Wholesale Ltd. (235,739 square feet) and Stellar Distributing (33,761 square feet). Building features include 32- to 34-foot ceilings, 16 loading docks, four drive-in bays, and parking for 222 cars and 16 trailers. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the …

Parkview Provides $12.5M Construction Loan for Multifamily Project in Orange, New Jersey

ORANGE, N.J. — Los Angeles-based Parkview Financial has provided a $12.5 million construction loan for The Legacy, a 51-unit apartment project in the Northern New Jersey community of Orange. The unit mix will include one- and two-bedroom residences that feature stainless steel appliances, quartz countertops and in-unit washers and dryers. Onsite amenities will include a resident lounge area, fitness center and a rooftop terrace. The borrower was an affiliate of New Jersey-based KW Contracting …

CBRE Negotiates $84.2M Sale of Gaslight Commons Apartments in South Orange, New Jersey

SOUTH ORANGE, N.J. — CBRE has negotiated the $84.2 million sale of Gaslight Commons, a 200-unit apartment community in South Orange, about 20 miles west of New York City. The sales price equates to $421,000 per unit. Built in 2002, the property features one- and two-bedroom units that are furnished with stainless steel appliances, tile backsplashes, granite countertops and walk-in closets. Amenities include a pool, business center, fitness center and a resident clubhouse. Jeffrey Dunne, Gene …

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