NEW YORK CITY — Commercial lender BHI, a division of Israel’s Bank Hapoalim, has provided a $31.1 million acquisition loan for a seniors housing community in Southern New Jersey. The name and location of the property, which has 110 units and is licensed for 130 beds, were not disclosed. Amenities include five living rooms, a library, game room, tea room, three dining rooms and a beauty salon. The borrower was Lionstone Care. The seller was also not disclosed.
LINDEN, N.J. — An affiliate of Cammeby’s International has purchased Sunnyfield Garden Apartments, a 120-unit multifamily property in Linden, for $20.5 million. The community, located in Union County, consists of 82 one-bedroom units, 38 two-bedroom units and onsite parking for 100 cars. Jeff Squires of New Jersey-based brokerage firm The Kislak Co. Inc. represented the seller, an entity doing business as S.G.A. LLC that has owned the property since 1950, in the transaction. Squires also procured the buyer.
MOORESTOWN, N.J. — Colliers International has brokered the sale of a 22,500-square-foot warehouse located at 353 Crider Ave. in the Southern New Jersey city of Moorestown. A partnership between Quinlan Development Group and Atrium Real Estate Group purchased the building for an undisclosed price. The seller, Court Street Ventures, acquired the asset a year ago and implemented capital upgrades. Ian Richman of Colliers brokered the deal.
WOOLWICH TOWNSHIP, N.J. — Nevada-based developer Dermody Properties has broken ground on a LogistiCenter at Woolwich, an approximately 1.1 million-square-foot industrial project in Southern New Jersey’s Gloucester County. The Class A development will consist of three buildings totaling 262,200, 552,585 and 336,700 square feet. Building features will include clear heights of 36 to 40 feet, 50 to 110 dock-high doors, ESFR sprinkler systems and build-to-suit office space. CBRE is the leasing agent for the project. Construction of the first building is slated for a fall 2022 completion.
ELIZABETH, N.J. — Cushman & Wakefield has brokered the $34.5 million sale of a 240,000-square-foot industrial asset located within a Qualified Opportunity Zone in the Northern New Jersey community of Elizabeth. Building features include 58 loading positions, 185-foot truck court depths and an adjacent lot for tractors/employee parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Eli Millstein, Chuck Fern and Gary Casaletto represented the undisclosed seller in the transaction. The buyer was also undisclosed. The property was fully leased to seven tenants at the time of sale.
WARREN, N.J. — Newmark has arranged the $19 million sale of two office buildings totaling 140,000 square feet in Warren, located about 30 miles outside New York City. At the time of sale, the properties were 81 percent leased to R&D, technology, product development, distribution, assembly and office users. Kevin Welsh, Brian Schulz, Jason Emrani, Steven Schultz and Dan Reider of Newmark represented the seller, a joint venture between Ivy Realty and Waterfall Asset Management, in the transaction. The team also procured the undisclosed buyer.
PISCATAWAY, N.J. — Indianapolis-based Duke Realty has completed a 622,230-square-foot, build-to-suit industrial project for Bob’s Discount Furniture in the Northern New Jersey community of Piscataway. Building features include 40-foot clear heights, 125 dock doors, 302 automobile parking spaces and 127 trailer parking spaces. The Connecticut-based national discount retailer, which operates 150 stores across 23 states, expects to bring hundreds of new jobs to the area in the coming years as it expands its supply chain and distribution network.
OLD BRIDGE, N.J. — A partnership between developers BNE Real Estate Group, LPZ and Sterling Properties has begun leasing 99 Bridge, a 150-unit apartment complex in Old Bridge, about 35 miles south of New York City. The property features one- and two-bedroom units with quartz countertops, stainless steel appliances, espresso cabinetry and individual washers and dryers. Amenities include a pool, fitness center, coworking lounge, outdoor grilling areas, game room, dog park, package lockers and a children’s play area. Monthly rents start at $2,280 for a one-bedroom unit.
SUMMIT, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has arranged the $6.2 million sale of a 10-unit townhome property in the Northern New Jersey community of Summit. The property was built in 2019 and consists entirely of two-bedroom units with stainless steel appliances, granite countertops and laundry rooms. Joseph Keenan and Joni Sweetwood of Kislak brokered the deal. Both parties involved in the transaction requested anonymity.
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 2018, to Forte Real Estate Development. Leasing began over the summer. Drew Fletcher, Matthew Hirsch, Bryan Grover and John Williams of Greystone handled the transaction.