Wednesday, June 25, 2025
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CityLine-East-Jersey-City
LoansMultifamilyNew JerseyNortheastNorthmarq

Northmarq Arranges Four Loans Totaling $68.5M for Refinancing of Two Jersey City Apartment Complexes

by Taylor Williams

JERSEY CITY, N.J. — Northmarq has arranged four loans totaling $68.5 million for the refinancing of CityLine East and West, two apartment complexes totaling 342 units in Jersey City. For CityLine East, which was built in 2021 and totals 198 units, Northmarq arranged a $34 million senior loan and an $8 million mezzanine loan. For CityLine West, which was completed in 2019 and totals 144 units, Northmarq placed a $21.5 million senior loan and a $5 million mezzanine loan. Both properties offer studio, one- and two-bedroom units. All loans carried fixed interest rates. John Banas and Kris Wood of Northmarq arranged the debt on behalf of the borrower, The PRC Group. The direct lenders were not disclosed.

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Dalfen-Lumberton-New-Jersey
AcquisitionsIndustrialNew JerseyNortheast

Dalfen Industrial Acquires 219,123 SF Building in Lumberton, New Jersey

by Taylor Williams

LUMBERTON, N.J. — Dallas-based investment firm Dalfen Industrial has acquired a 219,123-square-foot industrial building in Lumberton, located outside of Philadelphia in Southern New Jersey. The building is located along State Route 38 and is demise-able for single or multi-tenant occupancy. Building features include a clear height of 40 feet and 35 fully dressed loading positions, and Dalfen is in the process of adding 2,500 square feet of office space to the facility. The seller and sales price were not disclosed.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $4.3M Sale of Retail Strip Center in Wyckoff, New Jersey

by Taylor Williams

WYCKOFF, N.J. — Marcus & Millichap has brokered the $4.3 million sale of a 10,912-square-foot retail center in Wyckoff, located near the New York-New Jersey border. Built in 1990 and renovated in 2020, the property at 403-411 Goffle Road is home to JAG-ONE Physical Therapy and several local service-oriented tenants. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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600-Harrison-St.-Hoboken
LoansMultifamilyNew JerseyNortheast

CBRE Arranges $17M Loan for Refinancing of Hoboken Apartment Building

by Taylor Williams

HOBOKEN, N.J. — CBRE has arranged a $17 million loan for the refinancing of a 46-unit apartment building located at 600 Harrison St. in Hoboken. New York City-based The Daten Group developed the property in 2017. According to Apartments.com, the building offers one- and two-bedroom units with an average size of 895 square feet and amenities such as a zen garden, package handling service, resident lounge and grilling and dining stations. Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Fahri Ozturk, Richard Gatto and Zach McHale of CBRE originated the loan on behalf of Daten Group. The direct lender was not disclosed.

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AcquisitionsNet LeaseNew JerseyNortheastRetail

SRS Real Estate Brokers $7.4M Ground-Lease Sale of Northern New Jersey Retail Building

by Taylor Williams

LINDEN, N.J. — SRS Real Estate Partners has brokered the $7.4 million ground-lease sale of a 5,585-square-foot retail building in the Northern New Jersey community of Linden that is leased to convenience store operator Wawa. The building was constructed in 2023 on 1.5 acres within the 350,000-square-foot Legacy Square shopping center, and Wawa has 19 years remaining on the corporate-guaranteed lease. Kyle Fant, Britt Raymond, Matthew Mousavi and Patrick Luther of SRS represented the seller, a partnership between Dallas-based Cypress Equities and San Francisco-based Stockbridge Capital Group, in the deal. The undisclosed, New York-based buyer acquired the property via a 1031 exchange.

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AcquisitionsIndustrialNew JerseyNortheast

Dalfen, Centerbridge Buy 1.8-Acre Industrial Outdoor Storage Facility in Edison, New Jersey

by Taylor Williams

EDISON, N.J. — A partnership between Dallas-based investment firm Dalfen Industrial and funds advised by affiliates of Centerbridge Partners LP has purchased a 1.8-acre industrial outdoor storage (IOS) facility in the Central New Jersey community of Edison. The facility at 83 Gross Ave. houses a 4,500-square-foot building with a clear height of 14 feet. Mark Silverman, Liam McGregor and Elli Klapper of CBRE represented the undisclosed seller in the off-market transaction.

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DevelopmentMultifamilyNew JerseyNortheast

Garden Communities Nears Completion of 192-Unit Multifamily Project in New Providence, New Jersey

by Taylor Williams

NEW PROVIDENCE, N.J. — New Jersey-based developer Garden Communities is nearing completion of Providence Place, a 192-unit multifamily project located about 30 miles west of Manhattan in New Providence. Providence Place will feature two- and three-bedroom townhome-style apartments with private garages and driveways. Amenities at the 27-acre property will include a resident clubhouse and an outdoor pool, among others. Full completion is slated for this spring.

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Westwood-Multihousing-Portfolio-New-Jersey
AcquisitionsMultifamilyNew JerseyNortheast

JLL Brokers $80M Sale of Northern New Jersey Multifamily Portfolio

by Taylor Williams

WESTWOOD AND RIVER VALE, N.J. — JLL has brokered the $80 million sale of a portfolio of four multifamily properties totaling 276 units in Northern New Jersey. The properties are collectively known as the Westwood Multihousing Portfolio by virtue of three assets — Coventry Square, Stanford Court and The Madison Apartments — being located in Westwood. The fourth property, Village on the Green, is located in the adjacent town of River Vale. All properties were built between 1979 and 1987 and offer one- and two-bedroom units and amenities such as pools, fitness centers and dog parks. Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, Kushner Cos., in the transaction. The buyer was not disclosed. The portfolio had an occupancy rate of 96 percent at the time of sale.

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AcquisitionsNew JerseyNortheastRetail

KPR Centers Acquires Southern New Jersey Shopping Center for $41.7M

by Taylor Williams

VOORHEES, N.J. — New York City-based owner-operator KPR Centers has acquired Eagle Plaza, a 230,000-square-foot shopping center in Voorhees Township, located outside of Philadelphia in Southern New Jersey. Anchored by Acme Markets, the property was leased to approximately 40 retailers and restaurants at the time of sale. Other tenants at the center include Ross Dress for Less, Five Below, Chipotle Mexican Grill and Ace Pickleball Club. Brad Nathanson and J.P. Colussi of Institutional Property Advisors, a division of Marcus & Millichap, represented both KPR Centers and the undisclosed seller in the transaction.

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Faropoint-Greenwich-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

Faropoint to Develop 73,800 SF Industrial Project in Greenwich, New Jersey

by Taylor Williams

GREENWICH, N.J. ­— New Jersey-based Faropoint will develop a 73,800-square-foot industrial project in Greenwich, located on the Delaware Bay in Southern New Jersey. The site spans 9.2 acres along Swedesboro Road, and the facility will feature a clear height of 32 feet, two drive-in doors and an ESFR sprinkler system. Wendy Banscher of Fox & Roach represented the undisclosed sellers in the land deal, while Faropoint was self-represented. A construction timeline was not disclosed.

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