New Jersey

The-Lofts-at-Helmetta

HELMETTA, N.J. — JLL has arranged a $38.4 million loan for the refinancing of The Lofts at Helmetta, a 200-unit apartment complex in Central New Jersey. The complex is a conversion of the historic Helme Snuff Mill Complex, which was originally built in 1886 and shuttered in 1993. Residences come in one- and two-bedroom floor plans and are furnished with stainless steel appliances, granite countertops, hardwood plank flooring and in-unit washers/dryers. Amenities include a pool, fitness center, dog park, children’s play area, pet spa, bar/arcade room and a resident lounge with a coffee bar. Jim Cadranell, Michael Klein and Michael Donohoe of JLL arranged the five-year, fixed-rate loan through Nuveen Real Estate on behalf of the owner, Kaplan Cos.

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Park-&-Arbor-Old-Tappan-New-Jersey

OLD TAPPAN, N.J. ­— Locally based developer Hornrock Properties has completed Park & Arbor, a 110-unit apartment building in Old Tappan, located on the New York-New Jersey border. The property houses one-, two- and three-bedroom units and 21,000 square feet of retail and restaurant space. Indoor amenities include a fitness center, café, conference rooms, package lockers, children’s playroom and a clubroom/speakeasy with a bar, arcade, card table and billiards. Outside, residents have access to a pool, grilling and dining areas, multiple gardens/courtyards, putting green, pet walking area and a bocce ball court. Mary Cooke Associates handled interior design of the project. Leasing launched last fall. Rents for available one-bedroom apartments start at $3,800 per month.

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The-Reserve-at-Estuary-Weehawken

WEEHAWKEN, N.J. — Locally based developer Hartz Mountain Industries has completed The Reserve at Estuary, a 218-unit apartment complex in the Northern New Jersey community of Weehawken. Designed by MHS Architecture, the property is located within the 60-acre Lincoln Harbor mixed-use development and offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, individual washers and dryers and smart technology. Select residences have patios. Amenities include a pool, outdoor lounge, courtyard, fitness center, game room and a coworking lounge. Leasing began in April, at which point rents started at $3,300 per month for a studio apartment.

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SECAUCUS, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $23 million permanent loan for an industrial property located in the Northern New Jersey community of Secaucus. The 200,000-square-foot facility, which was fully leased at the time of sale, includes 19 loading docks, one drive-in door and office space. Gretchen Wilcox and Al Raymond of G.S. Wilcox arranged the five-year, fixed-rate loan through an undisclosed life insurance company. The borrower was also not disclosed.

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Monte-View-at-Pohatcong

POHATCONG, N.J. — Locally based developer Larken Associates has completed the lease-up of Monte View at Pohatcong, a 120-unit apartment complex located near the Pennsylvania-New Jersey border near Easton. The garden-style property consists of three multi-story buildings and one four-story building with a ground-floor clubhouse. Units come in one- and two-bedroom floor plans. Amenities include a pool, fitness center, game room, coworking space, grilling stations and a dog run. Construction began in November 2023. Leasing commenced last fall, at which time rents started at roughly $2,000 per month for a one-bedroom apartment.

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Urby-Hoboken

HOBOKEN, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has broken ground on a 345-unit multifamily project in Hoboken. Urby Hoboken will rise 16 stories and house studio, one- and two-bedroom units, with private terraces available in select residences. The centerpiece of the amenity package will be a fourth-floor courtyard that will feature a cold plunge pool, sunbeds, grilling stations and a fire pit pavilion. The pet-friendly building will also include a rooftop dog run. Lastly, Urby Hoboken will include more than 17,000 square feet of retail space. Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis and Jeremy Silber of BlueGate Partners arranged $162 million in construction financing for the project through PCCP LLC. Completion is slated for summer 2027.

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PHILADELPHIA — Marcus & Millichap has brokered the $27.1 million sale of a portfolio of four retail properties in metro Philadelphia that are leased to convenience store operator Wawa. The buildings were all constructed within the past three years and are located in Newtown, Pottstown, Warrington and Fairless Hills. Scott Woodard and Derrick Dougherty of Marcus & Millichap represented the buyer, a private investor based in Bucks County, in the 1031 exchange transaction. The sellers included regional developers, local private owners and East Coast-based owners and operators. All parties requested anonymity.

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HACKENSACK, N.J. — Locally based developer Plaxsun Properties has completed a 51,750-square-foot medical office building that is located directly across from the Hackensack University Medical Center campus in Hackensack. The facility features three floors of medical office space atop three levels of covered onsite parking, high-capacity HVAC and plumbing systems and multiple lobbies with elevator access. Newmark has been tapped as the leasing agent.

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OLD BRIDGE, N.J. — CBRE has negotiated the $12.1 million sale of Oak Tree Plaza, a 36-unit apartment building in the Central New Jersey community of Old Bridge. Built in 2023, Oak Tree Apartments comprises 16 one-bedroom apartments, 17 two-bedroom units and three three-bedroom residences that range in size from 702 to 1,184 square feet. Fahri Ozturk, Richard Gatto and Zach McHale of CBRE represented the seller, New York City-based developer EOM Realty, in the transaction. CBRE also procured the buyer, REVL Holdings.

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Overlook-Flats-Jersey-City

JERSEY CITY, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged $85 million in financing for Overlook Flats, a 297-unit apartment building located in the Journal Square area of Jersey City. Designed by Michels & Waldron with interiors by Builders Design, the 16-story building houses studio, one-, two- and three-bedroom units, as well as 40,000 square feet of commercial space. Residences are furnished with stainless steel appliances, designer cabinetry and quartz countertops. Outdoor amenities include a rooftop deck with a pool, kitchen, lounge area, picnic areas, bocce ball court and a pet play area. Inside, residents have access to coworking spaces, a children’s playroom, fitness center, golf simulator and a package room. Wesley Wilcox, Al Raymond and Will Gallagher of G.S. Wilcox arranged the five-year, fixed-rate loan through an undisclosed life insurance company.

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