OneWall Partners Expands into Philadelphia Market
ONE WALL PARTNERS EXPANDS INTO PHILADELPHIA MARKET Takes Over Management of Park Waverly Apartments to Reposition Asset _____________ One Wall Partners, an owner and manager of transit-oriented workforce housing, has expanded into the Philadelphia market, assuming the management of Park Waverly Apartments in Northeast Philadelphia. Park Waverly Apartments, located at 155 East Godfrey Avenue in […]
Newark, ‘The Brick City,’ Is The Hub Of The Internet
By Steve Lubetkin NEWARK, NJ—If someone asked you to identify the hub of the Internet, you might be surprised to know that one answer might be Newark, NJ. New Jersey’s largest city, known as the “Brick City,” is undergoing a redevelopment of both office and residential properties. It’s one of 20 cities competing as finalists […]
Will Amazon pick underdog Newark for its HQ2? Experts worry the city cannot afford to win.
By Jonathan O’Connell Among the 20 finalist cities on Amazon.com’s list for its second headquarters, Newark stands out for all the wrong reasons: It has the highest poverty rate, high tax rates and low numbers of college graduates and tech workers. Newark is the hard-knock contender that for six decades has watched its population slide […]
SJP, Aetna Plan Transit-Oriented Project in Downtown Newark
SJP Properties has created a joint-venture with Aetna Realty to redevelop the former Westinghouse property, a 3.7-acre site adjacent to the Newark Broad Street Station. The partners say it represents the most significant transit-oriented redevelopment opportunity in Newark and will stimulate growth in the city’s North Broad Street District. Conceptual plans for the property call for up to two million […]
Lenders Fight for Workforce Housing
By John Salustri Columbus, OH – “The outlook is very concerning. It’ll take years to balance supply and demand in this multi-housing space.” The speaker is Trent D. Brooks, the recently named president of RED Mortgage Capital, LLC and head of the lender’s national production initiatives. The “space” he speaks of is known as “workforce housing”. “Simply put, demand for […]
New Jersey port district poised for continued dominance, Transwestern says
By Joshua Burd Two decades’ worth of infrastructure upgrades are paying dividends for New Jersey’s booming port region, supporting a surge in cargo volume that is poised to sustain the growth in the state’s industrial market. That’s according to a recent report by Transwestern, which highlighted the steady uptick in recent years at the Port […]
Investor Focus Shifts In Multifamily
By Paul Bubny, December 8, 2017 BETHESDA, MD—Investors in the multifamily sector are turning their gaze outside the urban core. Capital One’s fourth annual survey of investor sentiment, conducted at the RealShare Apartments conference in Los Angeles, found that 43% are looking at secondary/tertiary markets, or more than twice as many as those who saw […]
Mars Wrigley moving to downtown Newark by 2020
By Joshua Burd, December 6, 2017 The maker of the iconic Mars and Wrigley brands is officially moving its U.S. headquarters to Newark, where it will anchor a soon-to-redeveloped piece of the city’s downtown. Mars Wrigley Confectionery U.S. announced Tuesday that it will bring 500 jobs to the city by July 2020, under a plan […]
OneWall Partners acquires 16-Property Portfolio from Shapco
NEWARK, NJ — One Wall Partners (OWP), the real estate investment and management firm based in Newark, recently completed the all-cash purchase of a 16-property portfolio in East Orange, West New York and Jersey City that was formerly owned by Shapco Property Management (SPM). The off-market transaction was closed in 60 days at a purchase price […]
Freddie Mac: For Many Renting Is A Strategic Choice
By Erika Morphy, October 26, 2017 More Freddie Mac research on the state of affordable housing in the US shows that a large number of renters view renting as an option that fits their lifestyle and is a strategic choice at many life stages. More renters believe this despite their view that housing prices — both to purchase […]
