Retail

NEWARK, N.J. — Lino DiLascio of the New York office of Johnson Capital has arranged a construction loan for the ground-up development of the Courtyard at Marriot hotel in Newark. The 150-room hotel will include 14,780 square feet of retail space. The project, estimated to cost $35 million, is the first new hotel in Newark in more than 40 years. It is located at the intersection of Lafayette and Broad streets. Chicago-based Tucker Development and Robert Finvarb Cos. are the project developers. The partnership also includes an affiliate of The New Jersey Devils. A regional bank provided the 3-year, floating-rate loan. The hotel is scheduled to open in September 2012.

NEW YORK CITY — JMC Holdings purchased retail space at 156-168 Bleecker St. in Greenwich Village for $30.6 million, with plans to upgrade the retail and take advantage of New York University's expansion plans less than one block away. JMC acquired the 27,000-square-foot building in a joint venture partnership with RWN Real Estate Partners, a New York-based real estate private equity fund. Sovereign Bank financed part of the acquisition with an $18.5 million first-mortgage loan. The property is fully leased to seven tenants, including CVS Pharmacy, Chase Bank and nightclub Le Poisson Rouge. The new owners are planning a $1.8 million renovation to the site. Berko & Associates represented the seller, NTD Building LLC. JMC Holdings was self-represented.