IRVINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the sale of a portfolio of seven multifamily properties totaling 190 units in the Northern New Jersey community of Irvington. The buildings within the portfolio range in size from 11 units to 37 units and have six retail spaces across them. Joni Sweetwood of Kislak represented the seller, a publicly traded Canadian investment firm, in the transaction and procured the buyer. Both parties requested anonymity.
SAYREVILLE, N.J. — JLL has arranged an undisclosed amount of acquisition financing and joint venture equity for a 10-acre industrial outdoor storage property located in the Central New Jersey community of Sayreville. The site at 700 Jernee Mill Road houses a 28,500-square-foot warehouse with clear heights ranging from 24 to 28 feet and 14 drive-in doors, as well as 6.5 acres of truck parking and additional outdoor storage space. Michael Klein, Matthew Pizzolato and Benjamin Morgenthal of JLL arranged the financing on behalf of the borrower, a partnership between Ridgecut Road and Brennan Investment Group. An undisclosed regional bank provided the loan.
KENILWORTH, N.J. — Sporting equipment retailer Pure Hockey has signed a retail lease to open an 11,340-square-foot store in the Central New Jersey community of Kenilworth. The tenant, which operates about 60 stores nationwide, has backfilled and converted a space formerly occupied by a laundromat/dry cleaner. Marc Palestina and Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC, in the lease negotiations. Dean Tselepis of Newmark represented the tenant.
FRANKLIN, N.J. — NAI James E. Hanson has brokered the sale of a 4,232-square-foot office building in the Central New Jersey community of Franklin. The building at 195 N. Church Road houses four suites, basement storage space and onsite parking. Joseph Vindigni of NAI Hanson represented both the seller, LSC Properties LLC, and the buyer, an entity doing business as 195 N Church LLC, in the transaction.
ELIZABETH, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $4.1 million sale of two multifamily properties totaling 20 units in the Northern New Jersey community of Elizabeth. Both buildings rise three stories, and one of the buildings includes two commercial spaces. Don Baxter and Michael Salomon of Kislak represented the seller in the transaction, and Joni Sweetwood of Kislak procured the buyer. Both parties requested anonymity.
BAYONNE, N.J. — Walker & Dunlop has arranged a $36 million loan for the refinancing of City Line Bayonne, a 162-unit apartment complex in Northern New Jersey. The property features 16 studios, 124 one-bedroom units and 22 two-bedroom residences, as well as amenities such as a rooftop deck, fitness center and a pet spa. John Banas, Kris Wood, John Wilson, Rhett Saltiel and Erik DiGirolamo of Walker & Dunlop originated the 10-year loan on behalf of the borrower, locally based developer The PRC Group. The direct lender was not disclosed.
TINTON FALLS, N.J. — Hotels Unlimited, an affiliate of New Jersey-based developer TFE Properties, has completed the $7 million renovation of the 178-room DoubleTree by Hilton hotel in Tinton Falls, located in Monmouth County. Renovations included a facelift of the lobby and overhaul of all guestrooms and suites. Other common areas, including ballrooms, meeting rooms, the outdoor pool, fitness center and onsite restaurant, were also upgraded, as were various elements of the building’s exterior.
NORTH BERGEN, N.J. — Locally based investment and development firm Denholtz Properties has acquired Solo at North Bergen, a 214-unit apartment complex in Northern New Jersey, for $89 million. Completed in 2023, Solo at North Bergen consists of three three-story buildings with 138 units and one five-story building with 76 units. Amenities include an outdoor pool with grilling and dining stations, a 5,000-square-foot clubhouse with billiards and gaming tables, fitness center, dog run and a package room. The property was 98 percent occupied at the time of sale. Nat Gambuzza and Spencer Beriont of Berkadia represented the seller, New York-based SYM Investments, in the transaction. Jonathan Brody, formerly of Rosewood Realty Group, represented Denholtz. Alan Isenstadt, Bruce Kaskey and Joe Tinti of KeyBank Real Estate Capital arranged acquisition financing for the deal.
MCLEAN, VA. — Capital One has provided $200 million in financing in separate deals for four multifamily properties totaling roughly 1,300 units in New York and New Jersey. Balance sheet transactions included a refinance of Ramblewood Apartments in Mount Laurel, New Jersey, and a refinance of Mid-Island in Bayshore, New York. Both deals featured fixed-rate loans with full term interest-only payments. Agency transactions included a seven-year, fixed-rate Freddie Mac loan with full-term, interest-only payments to refinance Eagle Rock Apartments at Freehold in Freehold, New Jersey. The team also arranged a Freddie Mac supplemental loan for Vista Point Apartments in Wappinger Falls, New York. Abe Hirsch and Zev Karpel of Meridian Capital Group arranged the loans on behalf of the borrower, Eagle Rock. Todd Phillips and Michael Maidhof led the transactions for Capital One.
JLL Arranges $193M in Construction Financing for Pathside Apartment Tower in Jersey City, New Jersey
JERSEY CITY, N.J. — JLL has arranged a $193 million construction loan for Pathside, a 605-unit luxury apartment tower in Jersey City, a suburb of New York City. Located at 499-507 Summit Ave. in the city’s Journal Square neighborhood, the high-rise will be situated within an opportunity zone and adjacent to the PATH subway station. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Salvatore Buzzerio of the debt advisory team at JLL Capital Markets arranged the five-year, floating-rate, nonrecourse loan through Pacific Life. The borrower, locally based Panepinto Properties Inc., plans to deliver Pathside in the second quarter of 2026. Joseph Panepinto Jr., global president of Panepinto Properties, led the financing negotiations on behalf of the developer. “We are excited to announce the vertical capitalization of Pathside, the newest luxury delivery in Panepinto’s Gold Coast pipeline,” says Thomas Didio Jr. “Pacific Life provided the borrower team with an accretive single-source solution in a very challenging market for large construction loans.” Upon completion, Pathside will feature studio, one-, two- and three-bedroom apartments averaging 710 square feet in size. The property will also feature 3,200 square feet of commercial space on the ground level. The general contractor on the project is AJD Construction, …