New Jersey

Drew Capital Arranges $16.3M Construction Loan for Central Pointe in Newark

by Lynn Peisner May 27, 2026

NEWARK, N.J. — Akiva Drew, founder of Drew Capital, has arranged a $16.3 million loan through Trevian Capital for the construction of Central Pointe, a 77-unit property in the University Heights neighborhood of Newark. Locally based Giga Holdings is the borrower and developer. The six-story structure will be located at 380 Central Ave. between First Street and Morris Avenue. Floor plans will consist of one- and two-bedroom layouts, and 16 units will be set aside as affordable. Rent restrictions were not disclosed. Amenities include a fitness center and coworking and …

May 27, 2026

Development Finance New Jersey News Northeast

CBRE Arranges $30.7M in Construction Financing for The Vail in West Caldwell, New Jersey

by Lynn Peisner May 20, 2026

WEST CALDWELL, N.J. — CBRE has arranged $30.7 million in construction financing for The Vail, a 92-unit, four-story community at 780 Passaic Ave. in West Caldwell. Twenty percent of the units will be designated as affordable. Rent restrictions were not disclosed. The borrower is Accordia Real Estate, and the lender is Principal Financial. CBRE’s Matthew Pizzolato, Josh Stein, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Lauren Weinstein and Justin Helbling led the financing. The property will feature a fitness center, coworking areas, a dog park, grilling stations and covered parking. A …

May 20, 2026

Investment Sales New Jersey News Northeast

ICON Real Estate Advisors Arranges Sale in East Orange, New Jersey

by Lynn Peisner May 5, 2026

EAST ORANGE, N.J. — Locally based ICON Real Estate Advisors has arranged the sale of a 26-unit property at 76 E. Park St. in East Orange, N.J. The asset traded between two LLCs for approximately $2.6 million. The deal was completed by David Oropeza, who advised the seller on the purchase more than 20 years prior. The seller was also advised by attorney Khoren Bandazian of Giordano, Halleran & Ciesla. The property comprises a two-story, 26-unit garden style building.

May 5, 2026

Affordable Housing Development Investment Sales New Jersey News Northeast

WinnDevelopment Launches $33M Renovation of Atlantic City Affordable Housing Community

by Lynn Peisner May 5, 2026

ATLANTIC CITY, N.J. — WinnDevelopment has begun a $33 million renovation at Garden Court Apartments in Atlantic City, a 177-unit, 20-building complex that has been housing much of the city’s workforce since it was constructed in 1985. WinnCos. secured Low-Income Housing Tax Credit equity through the New Jersey Housing and Mortgage Financing Agency, which will enable the units to remain affordable to renters earning no more than 80 percent of area median income for the next 45 years. Boston Financial Management purchased the tax credits. The scope of work includes …

May 5, 2026

Development New Jersey News Northeast

Mill Creek Residential Breaks Ground on Westfield Mall Redevelopment in Paramus, New Jersey

by Lynn Peisner May 4, 2026

PARAMUS, N.J. — Mill Creek Residential has broken ground on Modera Garden State Plaza, a mixed-use community in Paramus. Two separately branded residential buildings will contain a total of 575 units as well as 48,000 square feet of ground-floor retail space. The community will serve as a residential component of the redevelopment of Unibail-Rodamco-Westfield’s Garden State Plaza mall. Amenities will include a rooftop deck, resort-style pool, sauna, outdoor kitchen and dining space, grilling areas, fire pits, landscaped courtyards, resident clubhouse, coffee bar, game room, pool table and a fitness center …

May 4, 2026

Investment Sales New Jersey News Northeast

ICON Real Estate Investors Brokers $11.2M Sale in Chatham, New Jersey

by Lynn Peisner March 9, 2026

CHATHAM, N.J. — New Jersey-based ICON Real Estate Advisors has arranged the $11.2 million sale of Chatham Arms, a renovated 31-unit building at 49 S. Passaic Ave. in Chatham, 27 miles west of Manhattan. The property was acquired by a private investor completing a 1031 exchange doing business as Cornerstone 2025 LLC, while the seller was named as Chatham Arms JV LLC. The building features studio, one- and two-bedroom residences with open floor plans, updated kitchens, hardwood flooring, 9-foot ceilings, stainless steel appliances and in-unit climate control systems. Common areas …

March 9, 2026

Company News New Jersey News Northeast People News

Larken Associates Promotes Jessica Heckman to Executive Vice President of Multifamily Operations

by Lynn Peisner February 27, 2026

BRANCHBURG, N.J. — Larken Associates has appointed Jessica Heckman to the role of executive vice president of multifamily operations. In her new role, Heckman will oversee asset management, property management and leasing strategy and execution across the firm’s residential portfolio. Heckman first joined the company in 2008 and most recently served as director of residential asset management. Other titles held during her tenure include construction assistant, property manager and senior property manager. Branchburg-based Larken Associates owns a commercial portfolio that consists of office, industrial, retail, mixed-use and approximately 3,000 apartment …

February 27, 2026

Affordable Housing Development New Jersey News Northeast

WinnDevelopment and Partners Launch Construction of $26M Renovation of Carroll Street Houses in Paterson, New Jersey

by Lynn Peisner February 23, 2026

PATERSON, N.J. — WinnDevelopment, ART-JIUS, a locally based developer, and Rising Dove Carroll Street Houses, a nonprofit affiliate of Paterson’s Second Baptist Church, have begun the redevelopment of Carroll Street Houses, an 88-unit affordable housing community in Paterson. The $26 million renovation of the townhome-style property, originally developed in 1977, is anticipated to be complete within 18 months. Residents will remain in-place during construction. The LIHTC project will ensure rents remain affordable to households earning at or below 80 percent of area median income for the next 30 years. Rising …

February 23, 2026

Development New Jersey News Northeast

LeCesse, MAS Development Obtain $83.4M in Financing for Phase II of Project in Elizabeth, New Jersey

by Lynn Peisner February 19, 2026

ELIZABETH, N.J. — LeCesse Development Corp. and MAS Development Group have begun construction of ECCO in Elizabeth. The project marks the second phase of Vintage City, which is a developer-branded live-work-play district anchored thus far by two multifamily properties from LeCesse and MAS. JLL arranged approximately $83.4 million in financing for the project in the form of a $63.2 million construction loan from Bank OZK and a $20.2 million mezzanine placement from PGIM. Phase I, known as Vinty, is a 267-unit property that was completed in 2022. ECCO, located at …

February 19, 2026

Finance New Jersey News Northeast

JLL Capital Markets Arranges $296M Loan for New Jersey Portfolio

by Lynn Peisner February 18, 2026

MORRISTOWN, N.J. — JLL Capital Markets has arranged a $296 million Freddie Mac Loan for an undisclosed borrower to refinance a 13-property, 1,880-unit portfolio across New Jersey. The garden style assets feature market-rate units at properties located in five New Jersey counties: Middlesex, Somerset, Union, Monmouth and Morris. The properties were developed between 1959 to 1999. JLL Capital Market’s debt advisory team representing the borrower was led by Michael Klein, Thomas Didio Jr., Michael Mataras and Joseph Gruber.

February 18, 2026

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