Drew Capital secures $16.25 million in construction financing for Central Pointe, a 77-unit multifamily development in Newark.
Drew Capital has arranged $16.25 million in construction financing for Central Pointe, a six-story, 77-unit multifamily project located at 380 Central Ave. in Newark’s University Heights neighborhood. The financing was provided by Trevian Capital to developers Jeff Blau and Eitan Chakov of Giga Holdings of Newark.
Sixteen of the project's 77 units are designated as affordable housing. The development is situated near the New Jersey Institute of Technology and University Hospital and is slated for completion in the summer of 2027.
Cervelli Real Estate & Property Management adds three multifamily properties totaling three apartment buildings in Jersey City to its management portfolio.
Kawaida Towers, a 10-story affordable housing project, gains momentum in downtown Newark following an $8 million city grant.
Garden Communities launches a lottery for 90 affordable rental units at The Sylvan, a newly completed residential complex in Englewood Cliffs.
ICON Real Estate Advisors brokered the $19.35-million sale of The Pavilion, a 46-unit apartment building in Long Branch, and an adjacent retail property.
Walters earned 10 FAME Awards, including Community of the Year for the 73-unit Cornerstone at Hainesport in Burlington County.
The Kontos Group secures unanimous approval for Veranta by Kontos, an 80-unit multifamily development in Linden.
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