6B — June 27 - July 10, 2014 — Owners, Developers & Managers — 1 -( % 80%28-'

Real Estate Journal


O WNERS , D EVELOPERS & M ANAGERS J Dunne, Pride and Carino of CBRE represents seller Mill Creek Residential acquires Jersey City redevelopment site

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ERSEY CITY, NJ — Mill Creek Residential , a multifamily developer, in- vestor and operator spe- cializing in premier apartment communities across the U.S., partnered with Rockwood Capital and purchased 350 Warren St., an eight-story warehouse in Jersey City. Mill Creek plans to redevelop the property into a luxury multi- family community. Mill Creek’s plan includes the transformation of the site into a community of 366 loft- style luxury apartment homes not available anywhere else

7KLUG6WUHHW -HUVH\&LW\1- 3K)[ Bob Kilroy bkilroy@Jewelelectric.com


350 Warren Street rendering

in the Jersey City market. The community will include numerous lifestyle amenities for residents including a roof- WRS GHFN FOXETXDOLW\ ÀWQHVV studio, clubroom with bar, dog washing station, bicycle storage and repair station, conference rooms and 24-hour concierge. “Mill Creek is actively and strategically identifying in- vestment opportunities within the Northeast and we are ex- cited to continue to expand our presence in New Jersey with another luxury apartment community,” said Richard Murphy , managing director, Mill Creek Residential. “Jer- sey City is teeming with new development and we anticipate playing a major role in the con- tinuing transformation of this neighborhood.” Situated within the Power- house Arts District, 350 War- ren is just two blocks from the nearest Light Rail Station and one block from the Grove Street PATH station, providing seven- minute access to Manhattan’s World Financial Center and 18-minute access to Midtown. CBRE Group Inc.’s New York Institutional Group , led by Jeffrey Dunne , Gene Pride and Patrick Carino , represented the seller, 350 Warren LP, and was also re- sponsible for identifying Mill Creek as a potential buyer. “350 Warren garnered inter- est from national, regional and Manhattan developers for its unique ‘loft building’ charac- teristics and prime Jersey City Central Business District loca- tion,” Dunne said. “Mill Creek is acquiring a redevelopment asset unlike any of the conven- tional apartment projects in Jersey City with high ceilings, and unique exposed brick and wood interiors. „


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