Capital Markets

The $253-million Arthaus condo tower will feature 108 units, more than 36,000 square feet of amenities, including a rooftop greenhouse, and more than 4,200 square feet of ground floor retail.

Demand for the program is the highest it has ever been with an approximate 486% increase in the number of EB-5 petitions.

Dermody has been active in the Pennsylvania/New Jersey industrial market of late. The deal for the East Windsor, NJ property comes less than a month after the firm broke ground on two buildings at a 557,820-square-foot complex located 80 miles from the Port of New York and New Jersey in Wind Gap, PA.

The newly developed property was sold by AC Packer West, which was represented in the transaction by CBRE's Joe Ayers, Cliff Taylor and Shelton Granade. The deal calculated out to $211,333 per unit.

The new interest-only loan replaces a loan maturing in December and totals $1.515 billion with a five-year term.

An entity formed by two private sources invested $50,000 per unit in the apartment complex.