Saturday, February 1, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

25-W.-Wheelock-St.-Hanover-New-Hampshire
DevelopmentMultifamilyNew HampshireNortheastStudent Housing

Dartmouth College Underway on 285-Bed Student Housing Project in Hanover, New Hampshire

by Taylor Williams

HANOVER, N.H. — Dartmouth College is underway on construction of a 285-bed student housing project at its campus in Hanover, located in the central part of the Granite State. The project is being developed solely by the school and will be located at 25 W. Wheelock St. The five-story structure will feature two-, three- and four-bedroom apartments with full kitchens, living rooms and storage spaces. Other project partners include architecture firm Cube 3 and design-build firm PROCON. Construction began in October and is expected to be complete in advance of the fall 2026 semester.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilyNew JerseyNortheast

JLL Arranges Joint Venture Equity for 253-Unit Multifamily Project in Fort Lee, New Jersey

by Taylor Williams

FORT LEE, N.J. — JLL has arranged an undisclosed amount of joint venture equity for Modera Fort Lee, a 253-unit multifamily project in Northern New Jersey. The building, construction of which will begin before the end of the year, will rise 19 stories and offer studio, one-, two- and three-bedroom units with an average size of 972 square feet. Amenities will include a pool, fitness center, work pods, a rooftop terrace and various social gathering spaces. Jose Cruz and Ryan Robertson of JLL worked on behalf of the developer, Mill Creek Residential, to secure the equity investment with Kayne Anderson Real Estate.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilyNew YorkNortheastSeniors Housing

B2K Development Completes 65-Unit Active Adult Community in Commack, New York

by Taylor Williams

COMMACK, N.Y. — New York-based B2K Development has completed Sutton Landing, a 65-unit active adult community in the Long Island hamlet of Commack. Sutton Landing is a resort-style property in the community’s downtown area that is reserved for renters age 55 and over. The property exclusively offers two-bedroom units and amenities such as a pool, fitness center and a game room. The first move-ins are now underway, and rents start at $4,500 per month.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastRetail

Sportime Pickleball to Open 30,000 SF Facility in Yorktown, New York

by Taylor Williams

YORKTOWN, N.Y. — Sportime Pickleball will open a 30,000-square-foot facility in Yorktown, about 50 miles north of New York City. Set to open next fall, the facility will be located within Yorktown Green Shopping Center and will comprise 12 dedicated indoor courts, two party rooms, a lounge and a fully stocked pro shop. Curtis Nassau of RIPCO Real Estate represented the landlord, Oster Properties, in the lease negotiations. Brian Ripka, also with RIPCO, along with internal agent Daren Hornig, represented the tenant.

Continue Reading
FacebookTwitterLinkedinEmail
Conference CoverageFeaturesNortheastNortheast Feature ArchivePennsylvaniaSeniors Housing

Stars Are Aligned for Healthy Seniors Housing Investment Climate in 2025, Says InterFace Panel

by John Nelson

The investment market for seniors housing is in a favorable position heading into the new year thanks to a confluence of factors, says Scott Corbin, director at Boston-based AEW Capital Management. The firm has roughly $3 billion in assets under management within this niche property type. “We’ve seen a full rebound in recovery. We’re not necessarily back to pre-pandemic [profit] margins, but we are getting close. We are seeing outsized NOI growth and outsized rent growth when you compare it to other asset classes. We have the demographic tailwinds. In addition, you have muted supply [growth],” explained Corbin, a panelist at the InterFace Seniors Housing Northeast conference, which took place Dec. 4-5 in Philadelphia. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Joining Corbin on stage at Live! Casino & Hotel Philadelphia were moderator Kory Buzin, director, Blueprint Healthcare Real Estate Advisors; and panelists Curtis King, executive vice president, HJ Sims; Dennis Murphy, chief investment officer, Priority Life Care; Rick Swartz, senior managing director, JLL; and Shani Walter, managing director, Omega Healthcare Investors.  The daylong conference, …

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges $126.3M Refinancing of Northern New Jersey Industrial Building

by Taylor Williams

BAYONNE, N.J. — Cushman & Wakefield has arranged a $126.3 million loan for the refinancing of a 332,640-square-foot industrial building in the Northern New Jersey community of Bayonne. The speculative structure is Bayonne Logistics Center – Building 100 and features a clear height of 40 feet and 66 dock doors, as well as five acres of parking space that can support 195 trailers and 225 cars, or 45 trailers and 800 cars. Construction of the building began in May 2022 and was completed earlier this year. John Alascio, T.J. Sullivan, Chuck Kohaut and Mitch Rothstein of Cushman & Wakefield arranged the floating-rate loan through Ares Management on behalf of the borrower, a partnership between Lincoln Equities and PCCP LLC.

Continue Reading
FacebookTwitterLinkedinEmail
Ivy-&-Green-Hackensack
LoansMultifamilyNew JerseyNortheast

Northwestern Mutual Provides $115M Loan for Refinancing of Hackensack Apartment Community

by Taylor Williams

HACKENSACK, N.J. — Northwestern Mutual Life Insurance Co. has provided a $115 million loan for the refinancing of Ivy & Green, a 389-unit apartment community in Hackensack. Ivy & Green was developed in phases over the last several years, with Phase I totaling 221 units and Phase II totaling 168 units. Residences come in studio, one- and two-bedroom floor plans and are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Select units have private balconies. Amenities include a pool, fitness center, coworking space, lounge, theater and music studio and a pet spa. Michael Klein, Thomas Didio, Thomas Didio Jr. and John Cumming of JLL arranged the eight-year, fixed-rate loan on behalf of the borrower, a partnership between Hornrock Properties and GTIS Partners.

Continue Reading
FacebookTwitterLinkedinEmail
Trailside-Village-Forks-Township-Pennsylvania
DevelopmentMultifamilyNortheastPennsylvania

Larken Associates Breaks Ground on 420-Unit Multifamily Project in Forks Township, Pennsylvania

by Taylor Williams

FORKS TOWNSHIP, PA. — New Jersey-based developer Larken Associates has broken ground on Trailside Village, a 420-unit multifamily project in the Lehigh Valley community of Forks Township. Situated on 37 acres, the community will consist of 21 buildings, including 12 garden-style apartment buildings with one- and two-bedroom units, seven garage buildings and two mixed-use buildings with 26,795 square feet of retail space. Tenants will have access to indoor amenities such as a clubhouse with game room, lounge, work pods, fitness center, pet spa, mailroom package concierge and storage space. Outdoor amenities will include a pool with a tanning ledge and lounge seating, barbecue grilling stations, a fire pit, children’s playground, dog park and walking and biking trails. Completion is slated for 2026.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 103,325 SF Retail Center Near Philadelphia

by Taylor Williams

NORTH WALES, PA. — CBRE has brokered sale of The Shoppes at English Village, a 103,325-square-foot retail center in North Wales, about 25 miles north of Philadelphia. Trader Joe’s anchors the property, which was 95 percent leased at the time of sale. Other tenants include LensCrafters, Athleta, CycleBar, Hallmark, Chopt and Talbots. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, MetLife Investment Management, in the transaction. Adam Spengler and Tom Traynor, also with CBRE, arranged acquisition financing on behalf of the buyer, Nuveen Real Estate.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastRetail

HAPIK to Open 15,000 SF Indoor Climbing Gym in Brooklyn

by Taylor Williams

NEW YORK CITY — Fitness operator HAPIK has signed a lease to open a 15,000-square-foot indoor climbing gym in the Sunset Park area of Brooklyn. The gym will be located within Building 6 at the 35-acre Industry City mixed-use development and will feature 50 climbing walls, two rope courses and private event spaces. Chase Welles of TSCG represented the landlord, a partnership between Belvedere Capital, Jamestown and Angelo Gordon & Co., in the lease negotiations. The tenant representative was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts