Here are some of the development, sales, and lease dealsannounced in New Jersey in the past week.
DEVELOPMENT
OLD BRIDGE, NJ—Amboy Bank has providedWeiss Properties a $23.6 million loan forThe Cobalt Apartments, a 117-unit new constructionapartment community located on Veterans Memorial Drive in downtownSomerville, NJ. Situated in the heart of Somerville's rapidlygrowing redevelopment area, the apartments will consist of 36two-bedroom, 68 one-bedroom, 13 studio apartments and a two levelparking deck which will provide new apartment living in an urbanenvironment. “We are excited to be an integral part of Somerville'sgrowing redevelopment plans,” says Robert Weiss,president of Weiss Properties. “The residents ofThe Cobalt will be able to walk to the New Jerseytransit station, main street restaurants and the DivisionStreet Pedestrian Mall.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.