Multifamily

"We are excited to announce our second QOZ fund, also specifically investing in MHCs located within Opportunity Zones. Our second QOF (Qualified Opportunity Fund) is a $15-million equity raise and is about 70% subscribed,” Hales says.

Concord Pacific, an urban residential developer, purchased the site at Minor Avenue and Stewart Street following its first foray, Seattle House, a mixed-use project adjacent to Amazon’s Spheres at 6th and Bell.

The firm brokers the $71 million sale of an independent living facility and a rare garden-style apartment property.

Bergen County secured more than half of the HUD funds at $9,078,076 in Community Development Block Grants, another $2,625,823 in federal HOME funding and another $771,935 in Energy Solution Grant funding.

The Class A project, a 220-unit multifamily development, is being built on 2.54 acres at 40 Bennett Road directly across from MacKay Park. Due for completion in 2020, the transit-oriented community offers access to Interstate 95, Route 4 and the Palisades Interstate Parkway.

Adaptive reuse projects will make up a greater percentage of investment activity than self-storage and other non-core property types by 2023