New Jersey

“Obtaining this facility allows PTC to execute on our plans of rapidly advancing our gene therapy pipeline.”

Greystone has provided the loan for the buyer’s acquisition of the 100-unit Waterside Villas, a senior living community in Monroe Township, NJ.

Hennessey served for more than a decade at Community Investment Strategies of Lawrenceville, NJ as project coordinator where she had direct involvement in the development, construction and management of more than 2,000 affordable homes throughout New Jersey.

“CIG has traditionally focused on residential assets and has recently expanded its' investment criteria to include office properties,” says Gershon Alexander, principal of PAG Investments. “This acquisition will mark a foray into the office sector.”

Construction continues on The Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, which announced more than two dozen new lease deals at the property.

The Loketch Group will complete a like-kind exchange with the proceeds of the sale primarily with development opportunities in Brooklyn.

Strong tenant demand has also caused rents to rise, with the overall average rent higher by 7.8% year-over-year, including 10 submarkets that record rent increases of more than 10% during that period.

CBRE reports that a bidding process for the 1,035-unit portfolio attracted more than 33 offers. The portfolio benefits high occupancy, 4.1% average annual rent growth since 2014 and high resident retention.