9-13-19

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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 lea@marejournal.com

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. 

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