Blackstone Group is close to agreeing on a deal valued at $1.1 billion to sell a portfolio of Spanish mortgages to CarVal Investors, sources say.

The development team of Hornrock Properties of Park Ridge, NJ and Livingston, NJ-based BNE Real Estate Group recently held a ribbon cutting for the five-story development located at 1 Harrison Ave.

Marketing of the 236-unit development began just four months ago. The 60% leased milestone came last week as construction on the Harbor 1500's 42,000 square feet of amenities came to a close.

With the sale of Highbridge House at 1133 Odgen Ave. which closed on Friday, all 400 units will be affordable housing.