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SSEX/BERGENCOUN- TIES, NJ — Gebroe- Hammer Associates E Transaction marks one of the largest in New Jersey this year Gebroe-Hammer brokers $300M+ North Jersey Metro multi-family portfolio sale
ISSUE HIGHLIGHTS Volume 31, Issue 17 September 13 - 26, 2019
approximately 40% of the units are centrally located in the affluent Bergen County sub- market, just a few miles from the metro’s epicenter of employ- ment – Midtown Manhattan,” said Brecher. “Each also offers walkable proximity to transit as well as a short distance to upscale retail, dining and cul- tural attractions extending from Upper Montclair to Hackensack and Englewood Cliffs.” Collectively, the portfolio properties feature market- unique floorplans, ranging from studios to two-bedroom du- plexes. Each apartment-home includes newly finished hard- wood floors, decorative window coverings, full-sized kitchens with modern appliances, abun- dant closet space and baths with ceramic-tile flooring and ceramic tubs and sinks. The garden-style complexes also feature beautifully landscaped, park-like grounds. All are close to schools, shopping, dining,
transit and adjacent parks with trails, tennis, ballfields and other recreational ameni- ties. Garden State Pkwy. and I-95/New Jersey Tpke. access points are nearby. With a focus on suburban garden-apartment and urban mid- and high-rise properties, Gebroe-Hammer’s geographic areas of concentration are centered in New Jersey and extend to southeast Penn- sylvania and southern New York State. The firm is widely recognized for its consistent sales performance and is a 15- time CoStar Power Broker as well as the only Northeast firm named a Multi-Family Influencer for 2018. Other achievements include arrang- ing the largest Mid-Atlantic regionmulti-family sale (2018); one of the nation’s top-25 single multi-family asset sales (2017); and being named among the nation’s top-25 multi-family brokers (2017).
Pomerantz and sales rep- resentative Tim Blashford . The firm exclusively repre- sented the unnamed seller, a long-time Gebroe-Hammer cli- ent, and identified the buyer. “This sale marked an un- precedented concentration of well-maintained apartment homes to come online in the state’s highest-barrier-to- entry multi-family investment markets,” Uranowitz said. “Once in a generation, if ever, does a portfolio of this magni- tude come to market in such desirable locations offering value-add appreciation oppor- tunities through unit renova- tions and capital-improvement implementations on a grand scale.” “While the highest concentra- tion of the North Jersey Metro Portfolio’s historically stabi- lized and well-occupied multi- family properties span two of Northeast Essex’s most-popular out-commuter neighborhoods,
SPOTLIGHTS
has brokered t h e $ 3 0 0 + million sale o f a mul t i - property port- folio with over 1,800 units spanning the high-barrier- to-entry sub-
3-16A NORTHMARQ ARRANGES $34.15M REFINANCE OF RIVER’S EDGE AT MANCHESTER 40 UNDER 40
Ken Uranowitz
markets of Northeast Essex and Bergen counties in North- ern New Jersey. The 1.12 mil- lion s/f, 134 building portfolio is predominantly comprised of distinct and spacious one- and two-bedroom layouts, some of which include duplex-style options at select communities. Ken Uranowitz , presi- dent, and Joseph Brecher , executive managing director, engineered the sale along with team members executive vice president Greg Pine , senior vice president Debbie
3B
UPCOMING CONFERENCES September 24, 2019 6 th Annual NJ Apartment & Multifamily Conference October 22, 2019 6 th Annual Healthcare & Medical Conference November 1, 2019 5 th Annual NJ CRE Leadership Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or [email protected]
Funded by Apollo Global Management through Athene Annuity & Life Assurance Co. Rosenthal & Somaiya of CBRE secure $150M loan on behalf of Mack-Cali Realty
HOBOKEN, NJ — CBRE Capital Markets’ Debt & Structured Finance team announced that it has secured a $150 million 10-year fixed rate loan to refinance 111 Riv- er St., a 13-story, class A high- rise office tower situated on the Hudson River waterfront
in Hoboken. The non-recourse loan was funded by Apol- lo Global Management
t h r o u g h A t h e n e Annuity & Life Assur- ance Com- pany . C B R E ’ s S h a w n Rosenthal and Sunny
Directory DelMarVa.......................................................... 3-7A Organization Events. ...........................................16A Business Card Directory & Billboard Directory.....19A New Jersey................................................. Section B Northern New Jersey. ......................................6-13B Pennsylvania.............................................. Section C 40 Under 40............................................... Section D www.marej.com
Shawn Rosenthal
Somaiya in the Debt and Structured Finance group, secured the loan on behalf of Mack-Cali Realty Cor- poration , a publicly-traded REIT and owner, manager, and developer of premier of- fice and luxury multifamily properties in select waterfront and transit-oriented markets throughout New Jersey. “The financing markets embraced this trophy asset situated on the waterfront promenade in Hoboken with
111 River St.
unobstructed, breathtaking views of the Manhattan sky- line and located steps from numerous transportation op- tions into Manhattan. The quality of the asset, strength of sponsorship, and core loca- tion led to incredible lender demand for this loan,” said Mr. Rosenthal. 111 River St. is leased to
a diverse roster of credit- oriented tenants including John Wiley, Sumitomo Mitsui Trust Bank and Crunch Fit- ness. The property is located within steps of the Hoboken Terminal, which offers PATH, NJ Transit, water ferry, light rail and bus transportation providing convenient access to Manhattan withinminutes.
Inside Cover A — September 13 - 26, 2019 — M id A tlantic
Real Estate Journal
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Real Estate Journal — September 13 - 26, 2019 — 1A
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Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States specializing in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. We have a dedicated buy side desk that provides real time inventory and market >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90 Page 91 Page 92 Page 93 Page 94 Page 95 Page 96 Page 97 Page 98 Page 99 Page 100 Page 101 Page 102 Page 103 Page 104 Page 105 Page 106 Page 107 Page 108
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