44C — March 29 - April 11, 2019 — The Best of 2018 — M id A tlantic

Real Estate Journal


Gebroe-Hammer Associates Gateway Portfolio Hudson County, NJ The LARGEST MULTIFAMILY SALE of 2018 HFF-PA & NJ Chestnut Hill Village/BlossomRow Philadelphia, PA Cushman & Wakefield-NJ AVE Florham Park Florham Park, NJ

Andrew Merin David Bernhaut

Mark Thomson Jose Cruz

Nicholas Nicolaou Joseph Brecher

Gary Gabriel

Brian Whitmer

Size : 1,272 Units Brokers: Nicholas Nicolaou (Executive VP), Joseph Brecher (Executive Managing Director) As the largest of six multi-family property packages that comprised the Gateway Portfolio, sold on behalf a single private seller, this sale involved a collection of 67 apartment buildings sold for $190.65 million. Spanning West New York (47 buildings/993 units), Jersey City (12 buildings/175 units), North Bergen (6 buildings/76 units) and Guttenberg (2 buildings/28 units), this trade registered a $150,000 per- unit price and captured the attention of sellers and buyers nationwide. Nicolaou exclusively represented the seller, a private unnamed investor, and Joseph Brecher procured the buyer, Optimum Holdings LLC.

Size: 256 Units Brokers: Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer AVE Florham Park is a one-of-a-kind property offering 256 one- and two-bedroom luxury apartments and furnished suites, along with more than 65,000 s/f of business and resort amenity space. High-end apartment finishes include 9-foot ceilings and oversized windows. AVE is the only multifamily community integrated into the Green at Flo- rham Park mixed-use campus, surrounded by premier em- ployers including BASF N.A., NY Jets Headquarters, and built-to-suit medical offices for Summit Medical Group and Summit Medical Group MD Anderson Cancer Center. It is located minutes from downtown Madison and Mor- ristown, mass transit to New York, and major highways.

Carl Fiebig

Fran Coyne

Size : 821 Units Brokers: Mark Thomson, Jose Cruz, Carl Fiebig & Fran Coyne Chestnut Hill Village and Blossom Row are situated on 45 acres surrounding Market Square in the historic Chestnut Hill submarket of Philadelphia. The properties are 96 per- cent occupied overall. Goldman Sachs Asset Management Private Real Estate purchased the property free and clear of financing.

The MOST SIGNIFICANT/UNIQUE FINANCIAL DEALS of 2018 Meridian Capital Group The Lena Loan: $46 Million Procida Funding & Advisors RCA Victor World HQ Loan: $6.75 Million Cushman & Wakefield 42 Military Ocean Terminal Loan: $106.8 Million

Financier: Procida Funding & Advisors / 100 Mile Fund Location: 201 North Front St., Camden, NJ Size of property: 111,825 SF Procida Funding provided an $6.75 million Acquisition Loan through the 100 Mile Fund to Millennial Place, LLC for the acquisition, marketing, light rehabilitation and lease-up of Camden’s historic RCA Victor World Head- quarters at 201 N. Front St. The historic office building was constructed along Camden’s Delaware River waterfront in 1916, and was originally known as Building No. 2 on Vic- tor’s 58-acre campus. Frank Sinatra and Woody Guthrie signed contracts in its seventh-floor boardroom, and Neil Armstrong and Edward “Buzz” Aldrin, Jr. used backpack radio systems built at RCA’s Camden facility to communi- cate with each other as well as the rest of the world when they were on the moon. For the past 20 years the property was occupied by the Camden Board of Education. Follow- ing the BOE’s decision to downsize and market the Prop- erty, Millennial Partners was selected as the winning bidder in May of 2017.

Institution: Castle Lanterra Properties Financier: New York Community Bank Location: Raritan, NJ Size of Property: 224 Units

Institution: Lincoln Equities Group Financier: (Confidential) Location: 42 Military Ocean Terminal, Bayonne, NJ Size of Property: 153 acres Cushman & Wakefield EDSF arranged $106.8 million of acquisition and pre-development financing for the pur- chase of a one-of-a-kind infill land site known as Lincoln Logistics Center in Bayonne, NJ. Located across the Hudson River on the New Jersey Gold Coast, the property is comprised of approximately 153 acres (94 upland acres and 59 riparian acres) of portside property representing one of the largest and last remaining industrial redevelop- ment opportunities of scale in the NY/NJ port market. The site offers excellent last-mile connectivity via the NJ Tpke., I-78, Rte. 440 and Rtes. 1 & 9.

Meridian arranged $46 million in financing to refinance The Lena, a multifamily community in Raritan, NJ on behalf of Castle Lanterra Properties. The five-year loan, which was provided by a balance sheet lender, features a rate of 3.75% and one year of interest-only payments followed by a 30- year amortization schedule. Meridian initiated the loan for the refinance when rates were begin- ning to rapidly increase, but as a result of the firm’s sub- stantial and ongoing relationship with lenders, was able to lock in a 3.75% interest rate, a very favorable rate in today’s environment. The property consists of 224 apart- ments ranging from one to three bedrooms and is located 40 miles south of NYC.

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