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ISSUE HIGHLIGHTS Volume 37, Issue 6 June 2025 UNDER 30 AND THRIVING
Lincoln Equities Group to transform luxury rentals into for-sale condos Walker & Dunlop arranges financing & Equity for multifamily conversion
ONG BRANCH, NJ — Walker & Dunlop, Inc. announced that it arranged $121.5 million in equity and debt financing for the acquisition of Ocean Gate, a recently built, luxury class A apartment community with 170 multifamily located in Long Branch. Walker & Dunlop Capital Markets, led by Aaron Ap- pel, Jonathan Schwartz, Keith Kurland, Mo Bel- er, Adam Schwartz, Ari Hirt, Jackson Irwin, and Stanley Cayre , acted as an advisor to Lincoln Eq- uities Group and raised $46.5 million in joint venture equity from RWN Real Es- tate Partners and Avenue Realty Capital , as well as $75 million of debt from TPG Real Estate Credit . “We are pleased to partner with Walker & Dunlop, Avenue L
operating as a rental commu- nity that has strong potential through conversion to for-sale units. Lincoln Equities Group, led by Joel and Lance Berg- stein , plans to begin preparing and marketing the units for sale. Completed in December 2023, Ocean Gate offers high-quality one-, two-, and three-bedroom units with luxury finishes, including nine-foot ceilings, plank flooring, custom closets, and modern kitchens. Located on 11.63 acres along Ocean Avenue, the property provides direct beach access and is close to retail, upscale amenities, and Pier Village, a recently renovated shopping and din- ing destination. Resort-style amenities include a 16,000 s/f clubhouse, heated pool, Tiki bar, fitness center, pickleball courts, and beach volleyball, with convenient access to NYC and Newark. MAREJ
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AUCTION Clear Spring, MD
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Ocean Gate in Long Branch, NJ
CREATIVE FINANCING
Realty Capital, and TPG Real Estate Credit on this strategic acquisition, which positions us to unlock significant value in a unique New Jersey asset,” said Ari Shalam , managing partner at RWN Real Estate Partners. “W&D Capital Mar - kets brought deep expertise
and seamless execution to a complex transaction involving both equity and debt. We’re excited about the potential of this conversion and look for - ward to working together on future opportunities.” The property is a purpose- built condominium currently
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Kislak Sells 70 Central Lofts in Jersey City, NJ for $20 Million
Gould & Cunningham secure 3-year loan from MVB Bank on behalf of the sponsor Berkadia arranges $30M refinancing of Alexandria, VA property poised for redev.
ALEXANDRIA, VA — Berkadia announced the s refinancing of Carlyle Corner, a 268,472 s/f commercial prop - erty in Alexandria. Managing director Brian Gould and vice president Pat Cunningham of Berkadia DC Metro secured a $30 million 3-year loan from MVB Bank on behalf of the sponsor, Fundrise . Positioned one block from the Eisenhower Avenue Metro-
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CONFERENCES For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com
Carlyle Corner
Directory
rail Station, the property is currently entitled for over 3 million s/f of redevelopment potential. Fundrise’s business plan focuses on maintaining the existing retail, office and industrial areas of the prop - erty until the opportune time to commence the first phase of redevelopment. The surround - ing area features a dynamic mix of office, apartment, hotel, and retail spaces, including the US Patent and Trademark Office HQ, a complex housing
over 10,000 employees situ - ated directly across the street, as well as the National Science Foundation (NSF), located two blocks away. Berkadia’s Brian Gould said, “The lender recognized the strength of the asset’s loca - tion as one of the premier fu - ture development sites in the Washington DC metro market. We extend our gratitude to the Fundrise and MVB teams and are pleased to have worked with both parties on another
successful financing.” Garrett Reed , regional president of MVB, said, “At MVB Bank, we are committed to the success of our clients, and we are excited to partner with Fundrise on this $30 million refinance of their pre - mier property in Alexandria, Virginia. This loan reflects our dedication to being a trusted partner supporting transformative projects that strengthen the communities we serve.” MAREJ
Thriving Under 30.......................................................3-8 DelMarVa................................................................ 10-11 Financial Featuring Creative Financing ..................... 12-14 New Jersey featuring Northern NJ...........................16-21 Pennsylvania........................................................... 22-24 Owners, Developers & Managers............................25-32 CRE Organization’s Events Calendar .............................. 35 People on the Move.....................................................36 www.marej.com
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