Mid Atlantic Real Estate Journal Digital Edition. September features: The Fall Preview Spotlight, 1031 Exchange, Appraisal trends, and the latest updates from the Northern New Jersey real estate market.
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ISSUE HIGHLIGHTS Volume 36, Issue 9 September 2024
R Welsh, Fraker & Schulz facilitate major industrial portfolio transaction Newmark advises The Hampshire Cos. on $300 Million Fairfalls Logistics recap.
UTHERFORD, NJ — Newmark Group, Inc. , a commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupi- ers, announced it has served as a strategic advisor to The Hampshire Companies on a $300 million recapitaliza- tion of The Fairfalls Logistics Portfolio and assisted in pro- curing a joint venture equity partner. The transaction was facilitated by Newmark’s ex- ecutive managing director Kevin Welsh and global head of industrial and logistics Jack Fraker with managing director Brian Schulz . Currently 92% leased, the Portfolio totals 1.35 million s/f of light industrial space across 30 strategically located buildings with an average building size of 45,000+/- s/f. The portfolio provides criti- cal mass and operational ef- ficiency within the regional
forefront of the market. Northern New Jersey re- mains a prime location for in- dustrial real estate, benefiting from a deep and dense labor pool, excellent regional high- way infrastructure and status as a gateway to the largest metropolitan population base in the country and the ports of New York and New Jersey, the second-largest port complex in the U.S. in terms of annual TEU volume. The region has attracted substantial invest- ment and interest from domes- tic and international investors. Underpinning its attractive- ness are solid real estate fun- damentals, with a vacancy rate of 5.3% in 2Q24, over a percentage point tighter than the U.S. average. Average ask- ing rents in the Northern New Jersey industrial market have risen an impressive 87% since the end of 2019, to $17.01/SF at the close of 2Q24 – one of the country’s highest industrial asking rent averages. MAREJ “The vacancy was viewed as an opportunity to imple- ment their business plan im- mediately following closing, which involves a value-add renovation schedule in order to stabilize the assets while also increasing revenue.” Located at 440 N Black Horse Pike, 227 Washington Ave., and 71 Lakeland Rd., the property affords convenient ac- cess to Camden, Philadelphia, and other areas of interest. Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is one of the leaders in the com- mercial real estate industry, offering a suite of services to multifamily and commercial property clients. Through in- tegrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate so- lutions for the entire life cycle of our clients’ assets. MAREJ
SPOTLIGHTS
Kevin Welsh
Jack Fraker
Brian Schulz
port-centric market, offering unparalleled accessibility to major Northeast corridors and a broad user base. With a large concentration in Fairfield, pro - viding direct access to critical highways such as I-80 and Route 46, the Portfolio also spans Little Falls, Elmwood Park and Carteret. “The Newmark team is proud to have secured the JV partner on behalf of Hamp- shire to accommodate the recapitalization of its expan- sive industrial portfolio,” said Welsh. “The new partnership, combined with Hampshire’s decade-long stewardship of
the portfolio, will drive near- term value through mark-to- market rental increases and long-term capital apprecia- tion through enhancing the portfolio’s market position.” Highlights of the portfolio include broad zoning capa- bilities that support ware- housing, manufacturing and light industrial uses, accom- modating a diverse range of tenants across various indus- tries and sizes. Additionally, ownership has invested $14.3 million in capital improve- ments, including new roofs and parking lots, to ensure the properties remain at the “This was a challenging transaction to get across the finish line due to the loan as - sumption process which took several months,” said Gam- buzza. “Our team was creative in navigating a structure that kept both the buyer and seller engaged in the process, while there were so many outside forces involved that made this transaction difficult. From the time we entered into contract through the closing, there were so many changes that took place within the GSEs, and the servicers tremendous- ly slowed down our process. All of this needed to be managed during gyrations in interest rates, occupancy levels, and managerial friction.” “The purchaser, Silverstone Properties, is a new buyer in the Camden County market, which saw value reposition- ing the assets,” said Fiebel.
FALL PREVIEW 14-15
18-25
UPCOMING CONFERENCES 10th Annual New Jersey Real Estate Capital Markets Conference September 26, 2024 10th Annual NJ Office & Industrial Real Estate & Development Conference October 30, 2024 NJ Retail | Mixed Use Conference November 21, 2024 For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com
Penn Properties sells 208 garden-style units to Silverstone Properties Gambuzza and Fiebel of Berkadia broker $23M multifamily portfolio sale in Blackwood, NJ assumed by the purchaser.
BLACKWOOD, NJ — Berkadia announced the sale of a 208-unit, garden- style, multifamily portfolio in Blackwood. Senior managing director Nat Gambuzza and senior director Trevor Fiebel of Berkadia Morristown led the transaction on behalf of the seller, Penn Properties , while also procuring the buyer,
Silverstone Properties . The Blackwood Portfolio includes three separate com-
munities lo- cated within Gloucester Twp. in Cam- den County, including Blackwood Falls, Black- wood Ter- race, and F o x c r o f t Apartments. The portfo- lio sold for $23 million, reflecting a per-unit price of $110,576. The proper- ties were 85% occupied at
Directory
Nat Gambuzza
Owners, Developers & Managers.............................. 3-10 Financial Digest featuring 1031 Exchange ...............11-17 Fall Preview ............................................................ 18-25 New Jersey ............................................................. 26-33 Pennsylvania .......................................................... 35-37 Retail Development..................................................... 38 People on the Move .................................................... 42 Business Card Directory ............................................... 43 CRE Organization’s Events Calendar ............................. 44 www.marej.com
Trevor Fiebel
the time of the sale. Both Blackwood Falls and Black- wood Terrace had low lever- age agency debt, which was
Inside Cover — September 2024 — M ID A TLANTIC Real Estate Journal
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*Potential returns and appreciation are never guaranteed and loss of principal is possible. Please speak with your CPA and attorney for tax and legal advice.* e ere is a risk Investors may not receive distributions, along with a risk of loss of principal invested. is material does not constitute an o er to sell nor a solicitation of an o er to buy any security. Such o ers can be made only by the con dential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. is material is not to be construed as tax or legal advice. ere are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, nancing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. ere is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash ow, potential returns and potential appreciation are not guaranteed. Securities o ered through FNEX Capital, member FINRA SIPC.
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Interest Rates vs. Cap Rates: Their Impact on Industrial Real Estate
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T
he industrial real es- tate market has seen significant growth in
recent years, driven by a num - ber of factors like onshoring, technological advancements and the consumer’s demand for immediate goods. How - ever, like all real estate sec - tors, industrial properties are subject to the influence of broader economic factors, particularly interest rates. One of the key metrics that investors and analysts use to evaluate the performance and value of industrial real estate is the capitalization rate, or cap rate. Understanding the relationship between interest rates and cap rates is crucial for investors, developers and other industry stakeholders. What Are Cap Rates? Cap rates are a fundamen - tal metric used to assess the value and potential return of commercial real estate investments. The cap rate is calculated by dividing a prop - erty’s net operating income (NOI) by its purchase price, with the result indicating the expected return on the
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investment. For example, if an industrial property gener - ates $500,000 in NOI and is valued at $10 million, the cap rate would be 5%. Cap rates are an extremely important metric as they help inves - tors determine a property’s potential cash flow and profit - ability. Higher cap rates offer better returns but also carry more risk, while a lower cap rate offers lower returns and carries less risk. The Role of Interest Rates in Real Estate There is no question that the relationship between in - terest rates and cap rates is complex, with several factors influencing how they interact. First, there is often an inverse
relationship between interest rates and valuations. When in - terest rates rise, cap rates tend to increase as well, leading to a decrease in property value. Second, the spread between interest rates and cap rates is crucial for investors. The wider the spread, the more attractive the investment, as it suggests a higher return relative to the cost of financing. Third, cap rates can reflect market sentiment. During times of eco - nomic uncertainty, investors may demand a higher cap rate to compensate for perceived higher risk even if interest rates remain stable. For industrial real estate investors, understanding the continued on page 40
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O wners , D evelopers & M anagers 111 Littleton Rd. Move Marks Major Milestone In Expansion
Hudson Atlantic Relocates Headquarters To State-Of-The-Art Office In Parsippany, NJ P ARSIPPANY, NJ — Hudson Atlantic , a leading commercial
strategic step to better serve our clients and strengthen our position in the commercial real estate market. Our new loca - tion will enable us to deliver even more innovative solutions and maintain our commitment to excellence in every aspect of our business.” The modern facility features cutting-edge technology, flex - ible workspaces, and collabora - tive areas designed to foster creativity and productivity. With ample space to accom - modate Hudson Atlantic’s expanding team, the new office will serve as a hub for strategic
“This move is not just a reflection of our growth but also a strategic step to better serve our clients and strengthen our position in the commercial real estate market. Our new location will enable us to deliver even more innovative solutions and maintain our commitment to excellence in every aspect of our business.” — Adam Zweibel, President of Hudson Atlantic
real estate brokerage known for their exper - tise and ex- ceptional cli - ent service, is pleased to announce the reloca -
dynamic business district, offers an ideal location to sup - port the company’s growth and provide a superior working environment for its Zweibel Multifamily Team. “We are thrilled to unveil our new headquarters in Parsip - pany,” said Adam Zweibel , President of Hudson Atlantic. “This move is not just a reflec - tion of our growth but also a
transitions to its new head - quarters, it remains commit - ted to providing the highest level of service and maintain - ing its role as a trusted partner in the commercial real estate sector. MAREJ
initiatives, client engagement, and industry-leading services. Hudson Atlantic has built a reputation for its deep market knowledge, strong industry relationships, and dedicated client focus. As the company
Adam Zweibel
tion of its headquarters to a new, state-of-the-art office at 111 Littleton Rd., Suite 111, Parsippany, NJ 07054. The move represents a sig - nificant milestone for Hudson Atlantic as the company con - tinues to expand its operations and enhance its capabilities in serving clients across the region. The new office, situated in the heart of Parsippany’s BPG celebrates topping out of 14-story multi- family apartment community
PC: Moonloop Photography
The Press construction site aerial WILMINGTON, DE — Buccini Pollin Group, Inc. (BPG), BPGS Construction, and ResideBPG celebrated the topping out of their residen - tial development in Downtown Wilmington, The Press. Dur - ing the ceremony, a structural beam was raised and installed to the top of the 14-story build - ing, signifying a major mile - stone in the development of the 243-unit multi-family commu - nity coming to 801 N. Orange St. in the Summer of 2025. Designed by Perkins East - man , the development will ac - company the Orange St. tower, a 4-story brick clad residential building along 8th St. Future phases include a second resi - dential tower along Tatnall St. and townhomes on Girard S. Nestled between the various structures, a private exterior amenity space is designed for the interior portion of the site. The Press pays tribute to the site’s history as the former HQ for The News Journal. MAREJ
4 — September 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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The build-to-suit headquarters blends tradition and innovation in design and functionality Meyer completes new corporate headquarters for Builders Incorporated
M
features, such as a metal standing roof, black window mullions, and an angled metal canopy, juxtapose the natural materials used throughout the building’s structure. “We worked with Builders Incorporated to deliver a state- of-the-art headquarters that seamlessly combines design and functionality,” said Phil Burkett , principal at Meyer and co-owner of Meyer Ar - chitects. “The office’s unique blend of local, historic materi - als and modern details creates an environment that honors tradition and innovation. This
project is a testament to our shared values of quality, sus - tainability, and community, and reflects the collaborative partnership between Meyer and Builders Incorporated.” The building’s location was strategically chosen to maximize views of a nearby pond, enhancing the natural ambiance and providing an attractive visual backdrop. The design team carefully sited the building to em - brace these views, creating an immersive connection between the workspace and its natural surroundings. Inside, the office boasts 12-foot-high wood-paneled ceilings featuring exposed mass timber, industrial metal joinery, ductwork, and piping. Additional features include warehouse space, offices, con - ference rooms, and a large café that connects to an outdoor deck. The outdoor area is fitted with a canopy, lighting, and a large, operable glass wall that creates an indoor-outdoor experience in the workplace café. Materials from the old farm building that once oc - cupied the site were used to build a stone wall leading to the building’s entrance. “Our new headquarters embodies productivity and innovation,” said Gregory Hill, president of Builders Incorporated. “Meyer under - stood our vision from day one and partnered with us to cre - ate a workplace that not only serves our company’s needs, but also showcases the high- quality work that Builders Incorporated is known for.” The design team also includ - ed principal George Wilson , architect Todd Sell , interi - ors project manager Jessica Nixon , senior designer and architect Danielle Carter , and interior designer Heather Witmer . Other project team members included MEP en - gineer Kupper Engineer- ing , structural engineer Bala Consulting Engineers , and Builders Incorporated as the construction manager. Meyer has completed doz - ens of corporate office projects, including the corporate head - quarters for Bala Consulting Engineers, a WELL Certified Gold workspace that fosters connection and innovation, The Philadelphia Inquirer, Risk Management Associa - tion, and Independence Blue Cross. MAREJ
ALVERN, PA — Meyer , a national award-winning ar -
chitecture and design firm, has announced the comple - tion of Builders Incorpo- rated’s corporate headquar - ters in Malvern. The brand- new 11,500 s/f property skillfully merges traditional materials and modern aes - thetics, creating an innova - tive, inspiring environment to support all operations of the family-owned, full-service contracting company. The Meyer team worked closely with Builders Inc.,
Builders Incorporated’s corporate headquarters
constructed using mass timber techniques and a mix of local, historic building materials, in - cluding stone from the original farm that previously occupied the property. Contemporary
who acted as the construction manager throughout the proj - ect, to develop and execute a signature headquarters that is sophisticated, innovative, and functional. The building was
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O wners , D evelopers & M anagers
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6 — September 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com O wners , D evelopers & M anagers New window wall system installed in The Dumont Crystal raises the curtain on new window wall system Q UEENS, NY — Na- tional manufacturer Crystal Window &
an outstanding optional fea - ture. This covers the façade of the building floor slabs while seamlessly joining floor- to-ceiling panels above and below. By bridging the floor slab and offsetting the floor-to- ceiling glass panels outward to be in line with the bypass mod - ule, the Crystal window wall system replicates the appear - ance of a curtain wall façade. Slabs up to 8” can be spanned with the bypass feature. The Crystal W50i is al - ready proving to be popular in the marketplace. The first installation of the Crystal window wall system was recently completed at a new construction luxury multi - family project in Jersey City, NJ. The Dumont, a boutique 6-story building at 30 Vroom St., utilized almost 1,300 s/f of the window wall system for the top 5 floors. Selected by the developer/builder for its superior thermal performance and aesthetics compared to many competing products, this Crystal W50i system fea - tures both fixed and operating vision panels. The Jersey City project specified 1” IGUs with low-E coated glass and argon gas filling. MAREJ
Door Systems recently ex - panded its architectural fen - estration product line with the introduction of a new window wall system. The Crystal W50i is a feature- and option-rich window wall system suitable for all types of buildings includ - ing mid- and high-rise multi- family, office, hospitality, and institutional properties. Fully installed from within the build - ing’s interior, with floor-to- ceiling glass and a slab bypass option, the unitized Crystal product replicates the look of curtain wall with the benefits of easier handling, faster and safer installation, less on- site labor requirements, en - hanced thermal performance, outstanding aesthetics, and greater cost effectiveness. The Crystal W50i window wall is an aluminum unitized pre-glazed system that easily spans slab-to-slab openings up to 10’ in height. The W50i framing features minimal 2-¼” sightlines and a 5” frame depth. There are multiple installation options for the new Crystal system includ - ing slab-to-slab, slab bypass,
The Crystal W50i
shadow box, spandrel, and in - sulated bent metal slab cover. An advanced polyamide strut system is used to thermally separate interior and exterior components of the framing. The European style system is available with fixed vision glass as well as integrated casement, project-out awning, and balcony door operating panels. A T-bracket system allows multiple panels to be installed in sequence without additional adjustment. The W50i integrated and insulated bypass module is
M id A tlantic Real Estate Journal — Owners, Developers & Managers — September 2024 — 7
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O wners , D evelopers & M anagers
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8 — September 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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ACEC Delaware elects Dakota Laidman-Murray, P.E. to serve on Board of Directors Landmark Science & Engineering expands team with new hires: Freebery and Singleton
EWARK, DE — Landmark Science & Engineering , a premier consulting firm spe - cializing in site/civil and water resources engineering, envi - ronmental sciences, and land surveying, announced two new hires and a notable leadership achievement within the firm. Kristin L. Freebery, MBA, MHRM has joined Landmark, stepping into the role of busi - ness development and market - ing manager as she replaces Janet Pippert , who is retir - ing from Landmark after 19 years with the firm. Freebery N
and human resources manage - ment. After working in the public sector for eight years for New Castle County Gov - ernment’s Law Department, Freebery also spent 17 years working in the private sector, including with local consult - ing engineering firms Karins and Associates and Ramesh C. Batta Associates. Freebery earned both a Master of Business Admin - istration and a Master of Human Resources at Wilm - ington University in New Castle, DE, where she also received her bachelor’s degree
in behavioral science. She is a native Delawarean and proud graduate of Ursuline Academy in Wilmington. She is an active member of the Commercial-Industrial Realty Council (CIRC) , She also co-chairs the CIRC Membership Committee. Pippert, who served in the same role for the past 19 years, said she was “so pleased to find a person with Kristin’s professional background and experience in the field to take over the wide-ranging duties that cover marketing and new business development.” For Ted Williams , Landmark’s president, he said “her person - ality was a perfect fit for the business, and we are so happy to have her on board.” Matthew E. Singleton joined Landmark full-time in May 2024 as a project designer. Singleton originally started working part time in the sur - vey department in the summer of 2023 and does a mixture of design and survey work. Singleton graduated from the Civil Engineering Technology Associate Degree Program at Delaware Technical Communi - ty College and is an American Association of Highway and Transportation Officials (AAS - HTO) scholarship recipient. Singleton also became a Cer - tified Construction Reviewer (CCR) in March 2024. Dakota Laidman-Murray, P.E. , a firm principal, has been elected to serve ACEC Delaware’s Board of Direc - tors as their Secretary for a two-year period. Laidman-Murray is a princi - pal of Landmark where she has worked for over 11 years. She performs civil engineering and project management for large- scale educational, industrial and affordable housing projects involving planning and site design, stormwater manage - ment, environmental and water resources design. She earned a Bachelor of Environmental Engineering degree, with a con - centration in Water Resources and Water Quality and a mi - nor in Civil Engineering from the University of Delaware in 2012. Dakota is an active member with ACEC Delaware, serves as Secretary of the Board of Directors, and Chairs the Programs and Education Committee which awards engineering scholarships and helps promote engineering as a career choice. MAREJ
Kristin L. Freebery
Matthew E. Singleton
Dakota Laidman- Murray
is responsible for helping to build business and community relationships and to increase the firm’s public- and private- sector business.
Freebery has a strong back - ground in civil engineering and commercial real estate through many years of work experience providing marketing, business
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O wners , D evelopers & M anagers Circle Squared Alternative Investments served as partner on project The Hampshire Cos. & The Pinnacle Cos. intros. The Clair, Montclair, NJ’s multifamily community M ONTCLAIR, NJ — The Hampshire Companies , a full-
of the state’s most dynamic downtowns provide the per - fect environment to foster these connections.” “The Clair will offer res - idents a boutique living experience with only 40 residences, unparalleled amenities and hospitality services” added Brian Sto- lar , president and CEO of The Pinnacle Companies. “In addition to the outdoor club level courtyard and rooftop amenities, the Clair offers a 4,000 s/f street level plaza that residents will enjoy as well.”
Jeff Sica , president, CEO, chief investment officer of Circle Squared Alternative Investments , a partner on the project, continued, “It is an honor to be involved with bringing this beautiful project to what we consider the most exciting town in NJ.” OceanFirst Bank provided financing for The Clair. The Hampshire Companies has tapped Sparrow Asset Man- agement to oversee leasing at the community. The Hamp - shire Companies will serve as property manager upon stabilization. MAREJ
service, private real estate investment and develop - ment firm, and The Pinna - cle Companies , a privately held regional real estate de - velopment firm, announced the opening of The Clair, a 40-unit luxury multifamily community, located at 37 Orange Rd. in Montclair. Located steps away from Montclair’s dynamic Bloom - field Avenue corridor, The Clair offers highly adaptable residences paired with an amenity package unmatched in the local market. Designed by Minno & Wasko , The Clair’s studio, one and two-bedroom apart - ments are built around the needs of today’s apartment residents with open floor - plans, high ceilings, floor- to-ceiling windows, walk-in closets, stainless steel appli - ances and kitchen pantries. Beyond their homes, resi - dents can enjoy a compre - hensive amenity package that includes valet parking, package service, community wi-fi, EV charging stations, a clubhouse and business center, an outdoor courtyard with grills, a roof terrace and in-unit house cleaning. Residents of The Clair enjoy exclusive access to the adjacent 159-room MC Ho - tel, built by The Hampshire Companies and The Pinnacle Companies, which offers a wealth of amenities includ - ing a fully-equipped business center, stylish indoor/outdoor lounge spaces, a modern fit - ness center, and convenient drop-off dry cleaning ser - vices. Additionally, the part - nership provides residents with special perks such as discounted hotel rooms and catering events and savings at the hotel’s Allegory Res - taurant & Bar, MC Market and the award-winning Alto Rooftop Lounge. “Apartment residents to - day seek opportunities to connect not only with their fellow residents but also with the vibrant community right outside their doors,” said James E. Hanson II , president & CEO of The Hampshire Companies. “We are confident that The Clair’s comprehensive ame - nity package and prime loca - tion at the gateway to one
The Clair
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Toll Brothers Apartment Living served as developer of 326,000 s/f residential complex O’Donnell & Naccarato celebrates Broad + Noble luxury high-rise apartments grand opening
P HILADELPHIA, PA — O’Donnell & Nac - carato (O&N) celebrat - ed the grand opening Wednes - day of Broad + Noble, a brand- new, luxury apartment tower in Center City. With views of the city skyline, the 19-story, 326,000 s/f residential high rise offers a full slate of ame - nity spaces, as well as a blend of retail and office space and secure below-ground parking. O&N provided structur - al engineering services for the $112 million project, in partnership with developer Toll Brothers Apartment
building’s upper levels. Broad + Noble is constructed almost exclusively with eight- inch precast plank floors, uti - lizing the Girder-Slab struc - tural system to maximize space relative to the build - ing’s height. The top-floor sky lounge is designed with a plank floor system on steel wide-flange beams, and large steel transfer beams inter - rupt the spacing of columns and highly coordinated brace frames within the residential floors to permit a transition to amenity spaces and below- grade parking on the first and second floors below. MAREJ Accurate announces Citizen Little Falls now 90% leased Citizen Little Falls LITTLE FALLS, NJ — Citizen Little Falls, the luxury rental community near the Little Falls train station, has leased more than 90 percent of its residences, developer Accurate announced. “We are proud that Citi - zen Little Falls has reached the 90% leased mark and continues to receive positive feedback from renters,” said Jack Klugmann , president and CEO of Accurate. “Citizen Little Falls provides an at - tractive residential option in a well-located downtown that is gaining popularity with new residents, new businesses and new visitors. It is exciting to be a part of it all and we look for - ward to offering the experience to even more renters as we move toward a full lease up.” Located at 405 Main St., Citizen Little Falls is a com - munity of 185 high-end apart - ments. It is part of Accurate’s popular “Citizen” brand of rental residences. Accurate integrated a full complement of amenities into the design of Citizen Little Falls to offer residents the best in recreation, relaxation, and service. They include land - scaped outdoor courtyards and green spaces, and a pet wash and spa. MAREJ
Living and architect Bar- ton Partners . The building, which broke ground in 2021, features a traditional brick exterior in a nod to the his - toric industrial architecture of Philadelphia’s Callowhill neighborhood and overlooks a sprawling landscaped plaza with a separate, two-story re - tail space, nestled between its massive L-shaped footprint. Residents of the 344-unit apartment complex will also be treated to a sky lounge with private dining, as well as outdoor terraces and a rooftop deck created by setbacks at the
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M id A tlantic Real Estate Journal — Financial — 1031 Exchange — September 2024 — 11
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12 — September 2024 — 1031 Exchange — Financial — M id A tlantic Real Estate Journal
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Publication offers expert insights and expands educational resources Kay Properties & Investments launches ‘1031 DST Digest’ Magazine for DST Investors
K
an investment. This case study may not be representative of the outcome of past or future offerings. Please speak with your attorney and CPA before considering an investment. *Annualized return is de - fined as a total return includ - ing profit on sale and monthly distributions earned on an annualized basis. ** Total return consists of initial return of investor prin - cipal, monthly distributions, and profit upon sale. *** All return calculations are calculated as if the investor closed on the DST investment at the same time the property was purchased. Diversification does not guarantee profits or protect against losses. All real es - tate investments provide no guarantees for cash flow, distributions or appreciation as well as could result in a full loss of invested principal. Please read the entire Private Placement Memorandum (PPM) prior to making an investment. This case study may not be representative of the outcome of past or future offerings. Please speak with your attorney and CPA before considering an investment. There are material risks as - sociated with investing in real estate, Delaware Statutory Trust (DST) properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of own - ing/operating commercial and multifamily properties, short term leases associated with multifamily properties, financ - ing risks, potential adverse tax consequences, general econom - ic risks, development risks and long hold periods. All offerings discussed are Regulation D, Rule 506c offerings. There is a risk of loss of the entire in - vestment principal. Past per - formance is not a guarantee of future results. Potential distri - butions, potential returns and potential appreciation are not guaranteed. For an investor to qualify for any type of invest - ment, there are both financial requirements and suitability requirements that must match specific objectives, goals, and risk tolerances. Securities of - fered through FNEX Capital, member FINRA, SIPC. MAREJ
ay Properties & In - vestments, a national leader in Delaware
chock-full of exclusive, valu - able information. Visit www. kpi1031.com/blog to learn more about the very latest trends in the 1031 exchange, Delaware Statutory Trust and 721 exchange investment world. There is no question, the new Kay Properties 1031 DST Digest will emerge as an invaluable resource for inves - tors eager to deepen their un - derstanding of the Delaware Statutory Trust investment vehicle, 1031 exchange strat - egies as well as 721 exchange UPREIT investment options. By offering comprehensive insights, expert advice, and real-world examples, the mag - azine caters to both novice and seasoned investors alike. The magazine was designed to be engaging and accessible so that readers can grasp com - plex concepts with ease, mak - ing the pursuit of knowledge both enjoyable and rewarding. Whether you’re looking to step away from active property management or simply inter - ested in learning more about 1031 and 721 exchange strat - egies, this publication stands out as an essential guide in the dynamic world of Delaware Statutory Trusts. Investors are encouraged to sign up for a free sub - scription to the 1031 DST Digest by visiting https:// www.1031dstdigest.com. About Kay Properties and www.kpi1031.com: Kay Properties helps investors choose 1031 exchange invest - ments that help them focus on what they truly love in life, whether that be their children, grandkids, other businesses, travel and hobbies (NO MORE 3 T’s! Tenants, Toilets and Trash). We have helped 1031 exchange investors for nearly two decades exchange into over 9,100 - 1031 exchange in - vestments. Please visit www. kpi1031.com for access to our team’s experience, educational library and our full 1031 ex - change investment menu. *Past performance does not guarantee or indicate the likelihood of future results. Diversification does not guar - antee profits or protect against losses. All real estate invest - ments provide no guarantees for cashflow, distributions or appreciation as well as could result in a full loss of invested principal. Please read the en - tire Private Placement Memo - randum (PPM) prior to making
Statutory Trust equity placements and 1031 exchange in - vestor educa - tion, proudly announced the publica - tion of its ex - clusive 1031
Dwight Kay
DST Digest magazine. This specialized publication is craft - ed to offer in-depth education on 1031 Exchange and DST investment strategies, ad - dressing current investment themes and answering some of the most asked questions from investors. According to Dwight Kay, founder/CEO of Kay Proper - ties and editor of the maga - zine, the 1031 DST Digest provides investors valuable educational resources to help them navigate the DST 1031 Exchange marketplace and provide an in depth re - view of both the benefits and risks of Delaware Statutory Trust investments. Kay Properties leads the 1031 Exchange industry in providing educational re - sources to investors, and many people believe that no other firm in the country does more to educate 1031 exchange investors on DST in - vestments. Kay’s comprehen - sive platform of educational options puts Kay Properties directly in the spotlight as the preeminent authority and expert in DST 1031 exchanges and investment strategies. “We knew our investor community would embrace a publication focused solely on detailed and informative Delaware Statutory Trust articles directly written for 1031 exchange investors. This assumption was correct as we have already had more than 1,200 investors request a copy of the Kay Properties 1031 DST Digest magazine,” said Kay. According to Dwight Kay, inside the new magazine, readers will discover articles covering subjects such as: • Why the 721 Exchange Could be a Good Exit Strategy for 1031 Exchange Investors • What is Anchor and Buoy 1031 Exchange DST Investing? • Case Study of How Kay Properties helped one investor
close on 15 DSTs in 30 days • Why Investors Love Our Online Marketplace for 1031 Exchange and DST Opportunities • A Comprehensive Guide to Debt-Free DSTs • Why Now Might be a Good Time to Sell Your Investment Real Estate And much more. Magazine Added to the Kay Robust Suite of Delaware Statutory Trust Educational Assets The 1031 DST Digest maga - zine joins an entire robust suite of Delaware Statutory Trust educational assets that also include: Weekly Webinars: Each week, Kay Properties founder and CEO, Dwight Kay and the Kay Properties team of DST experts, regular - ly host educational webinars and special events to help in - vestors understand the 1031 exchange process and the many nuances of Delaware Statutory Trust properties. DST 1031 Conference Calls Every Friday at 11 a.m. PST/2 p.m. EST Kay Proper - ties also hosts an interactive live conference call where one of our DST 1031 exchange experts discusses a variety of pertinent topics related to DST 1031 properties. 1031 Exchange Delaware Statutory Trust Educational Dinner Events Each month, Kay Prop - erties & Investments holds dinner events ranging from Pasadena, CA to West Palm Beach, FL where accredited 1031 exchange investors are
invited to learn more about the Delaware Statutory Trust investment strategy and the www.kpi1031.commarket - place. These invitation-only events provide accredited investors the opportunity to meet some of the most knowl - edgeable DST 1031 exchange experts in the entire country. Expanding Library of Podcast Episodes Hosted by Dwight Kay and the Kay Properties Team Kay Properties has created an ever-growing library of informative podcast episodes that can be streamed directly from any computer or smart - phone with just a click of a button. These podcasts are unique in that they allow in - vestors to listen to an in-depth conversation of the many recurring themes and nu - ances of the DST investment process. Investors are able to share, download, fast forward, and pause the recording for easy listening convenience. Interested in learning more about Delaware Statutory Trusts? Make sure to go to https://www.kpi1031.com/ dst-1031-essentials-podcasts/ to hear the very latest podcast episodes on Delaware Statutory Trust investing. The Kay Properties Blog Page - A Great Resource for Learning More About DST Trends, Recent DST 1031 Transactions, and Insights from DST 1031 Exchange Experts Kay Properties prides itself on the extensive and original library of relevant articles that are both searchable and
M id A tlantic Real Estate Journal — Financial — September 2024 — 13
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14 — September 2024 — Appraisal Institute Southern NJ Chapter — M id A tlantic Real Estate Journal
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www.ai-snj.org Telephone 856-415-0281 • Fax 856-415-1952
2024 OFFICERS AND DIRECTORS President: Sherrie Lisa Galderisi, SRA, AI-RRS Sherrielisa43@aol.com Vice President: Maria Nucci, SRA, AI-RRS sjappraisalassociates@gmail.com Treasurer: Meghan Linaris, MAI MLinaris@capvalpartners.com Secretary: Deborah Tordella, MAI, SRA Dptordella@gmail.com Directors: Steve Bartelt, MAI, SRA, AI-GRS Danielle Fischer Lee Ann Kampf, MAI Jerry McHale, MAI Kathy Turley Errett Vielehr, MAI Past President: Robert Klein, MAI, AI-GRS
A Message from the National President of the Appraisal Institute, Sandy Adomatis, SRA Good news! Great things are happening at the Appraisal Institute! The Board of Directors approved using the most welcoming term for all AI professionals. These changes take effect January 1, 2025. The three new membership classifications are: • Designated Members (those holding one or more Appraisal Institute designations), • Associate Members (Practicing Affiliates and Candidates for Designation) and • Affiliate Members (Affiliates and Student Affiliates). We are all members. We are more inclusive and welcoming. We are One Appraisal Institute!
We were Platinum Sponsors of the Valuation Expo this year that brought 660 attendees to Las Vegas to learn more about residential valuation matters. The presence of the Appraisal Institute’s bright, new, impressive booth, Officers, and staff brought attention to the brand. Our members expressed their approval of the booth and attendance by Officers and staff. Paula Konikoff, President-Elect, and I attended the International Association of Assessing Officers (IAAO) Conference in Denver immediately following Val Expo. IAAO drew 1,700 attendees and it was four days of not only educational sessions, but also ideal networking with valuation professionals.
Shown from left: Southern NJ Chapter President Sher- rie Lisa Galderisi, SRA, AI-RRS, and National Ap- praisal Institute President Sandy Adomatis, SRA
AI members at the conference commented on how happy they were to see the Appraisal Institute encouraging more collaboration with like-minded organizations. Paula and I met with the CEO and Presidents of the IAAO, American Society of Appraisers (ASA), and AI Canada to discuss how we might work together in areas like lobbying efforts, joint meetings, sharing of information on valuation topics, and so much more. IAAO has a very active Women’s Initiative Committee (WIN). This presents a great opportunity for our two WIN groups to connect and learn from each other. I was on a panel at the WIN Luncheon where around 250 people were in attendance. The panelists shared our stories about leadership positions in our organizations and in our profession. We are better together! Let us continue to build bridges to create a louder voice for valuation professionals.
SNJAI UPCOMING EVENTS | For more info, visit www.ai-snj.org
New Jersey Appraiser Law & Regulations (Mandatory class in your NJ cycle!) | 2 CE hours Date: Tuesday, September 24, 2024 | Time: 4:00-6:00 pm | Location: Ott’s, 340 Greentree Road, Sewell Fall Dinner Meeting and Seminar: 4:00 – 6:00 pm: NJ Appraiser Law & Regulations | Susanne Curran, MAI, AI-GRS 6:00 – 7:00 pm: Buffet dinner (cash bar) and chapter meeting NJ Appraiser Law, Regulations N.J.S.A. 45:14F-1, et seq. Real Estate Appraisers Act This course is required by NJ regulations every 2 yrs. Setting the Stage for Inputs: An In-depth Look at an Inferred Market Study | 4 CE hours Challenges Within an Appraisal | 3 CE hours | Thursday, Oct. 10, 2024 | Zoom Take one or both! Instructor/Developer: Vince Dowling, MAI, SRA Impact of Short-Term Rentals (on Real Property Valuation)
7 CE hrs | October 16, 2024 | Zoom Instructor: Douglas A. Potts, MAI, AI-GRS
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