S hopping C enters C entral N ew J ersey

Real Estate Journal — New Jersey — February 13 - 26, 2015 — 5B


M id A tlantic

AMILTON, NJ — Robert Ranieri , se- nior vice president/ NorthMarq arranges financing through Freddie Mac for properties totaling 870 units Northmarq Capital completes refinancing for four multifamily properties totaling $41 million H

managing director of North- Marq Capital ’s Greater West- chester NY/CT based office arranged refinancing totaling a combined $41 million for a portfolio of four multifamily properties located in Hamilton. The properties that received financing included: Winding Brook Apartments (336-units), Zachary Arms Apartments (240-units), Yorkshire Apart- ments (128-units) and Hamilton Arms Apartments (166-units). The transactions were struc- tured with 15-year terms and 30-year amortization schedules. NorthMarq arranged financing through Freddie Mac . The company has a long track record of multi-family financing as a Freddie Mac Program Plus Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Mul- tifamily Finance “Freddie Mac was able to waive a portion of the prepay- ment penalty to keep these loans on the books,” said Ranieri. n UNION, NJ — Bridge De- velopment Partners, LLC announced the acquisition of 18.03 acres from Industrial Realty Group in Union, for the development of a new, class A, institutional-quality industrial building. The site was originally de- veloped in the 1920s as a milk processing plant site operated by the Tuscan and Lehigh dairies. Operations at the property ceased in 2006. Bridge will demolish all existing buildings on the site. The firm will then develop a speculative 263,415 s/f indus- trial building with a 36-foot clear ceiling height. The prop- erty will be designed to accom- modate up to two tenants, with building completion expected by November 2015. “This is a premier opportuni- ty in the New Jersey market,”

Winding Brook Apartments

Zachary Arms Apartments

Yorkshire Apartments

Hamilton Arms Apartments

Bridge Development furthers New Jersey market expansion with acquisition of 18.03 acres in Union, NJ

Jersey, with direct access via Rte. 22 and Rte. 287, and easy access from the Garden State Parkway and I-78. The site offers excellent visibility from both I-78 and the Garden State Parkway, as it sits directly in the northwest quadrant of the interchange. This is the first major proj- ect for Bridge since opening a new office in Parsippany, NJ, in September 2014. Principals Jeffrey Milanaik and John Porcek oversee operations of the office. With this acquisition and anticipated project, Bridge will have developed and/or acquired more than 8.1 million square feet of investment- grade industrial and office buildings. The firm currently has more than $350 million of new industrial developments underway. n

said Bridge principal Jeff Milanaik . “We are focused on finding infill opportunities in North and Central New Jersey that have previously been overlooked due to the complexities of the property. These markets are experienc- ing a strong demand for qual- ity class A industrial facilities. This highly desirable project fits that need and will show- case the type of product we will continue to deliver in the Northeast.” Marketing and leasing of the project will be managed by Joel Lubin , managing director, and Blake Chro- man and Chris Hile , senior vice president, all with JLL . Architectural and structural design will be performed by Cornerstone Architects, with Premier Design + Build National, LLC serving

foot staging bay at the loading dock and 111 trailer positions (1:2,369 s/f), all of which are ideal for warehouse and dis- tribution tenants. The project is located within six miles of the Port of New

as general contractor. The facility will feature ar- chitectural concrete precast construction, ESFR sprinkler systems, T-5 lighting, as well as 50 docks (1:5,268 sq. ft.), 55-foot column spacing, 66-

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