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James Simmons, a 20-year veteran of private equity real estate investment, has launched private real estate investment firm Asland Capital Partners, specializing in multifamily, mixed-use and retail investments.
In the firm's fourth quarter 2019 report on the Southern New Jersey and Southeastern Pennsylvania markets, WCRE states that although leasing activity was down overall, vacancy rates remained low and gross leasing absorption was positive.
Landlords are under pressure to get their paperwork in order to meet the New York City Council's Climate Mobilization Act (CMA) passed last year to reduce greenhouse gas emissions and improve efficiency for commercial and residential buildings larger than 25,000 square feet.
The financing will facilitate the construction of a 1.2-million-square-foot mixed-use tower, part of a 1.9-million-square-foot development that will feature office, residential condominium and retail space.