New Brunswick, N.J. — Robert A.M. Stern Architects (RAMSA) has been selected to conduct a planning and feasibility study for the development of an undergraduate living-learning community on the Rutgers University campus in New Brunswick. The project, dubbed the Douglass Discovery Village, is the result of a recently completed master plan led by the university that identified the need for first-year neighborhoods. The development is expected to include new student residences, academic facilities including a new library and student services that support health and wellness. The project team will include David …
Camden, N.J. — The Michaels Organization has hired Mark Biancucci to the newly created role of deputy chief financial officer. Biancucci brings over 22 years of experience in real estate investment, development and construction to the role. He most recently served as chief financial officer at Lendlease for its business in the United States. “We’re delighted to welcome Mark to our team,” says Joe Purcell, Chief Financial Officer of the Camden, New Jersey-based firm. “With our continued growth across the country and across all market segments, Mark will provide critical support …
Camden, N.J. — John O’Donnell, CEO of The Michaels Organization, has taken a leave of absence to focus on defending himself against allegations announced in an indictment on June 17, 2024, by the New Jersey State Attorney General. The indictment does not name Michaels as a company, and is limited in scope to two properties along the Camden, New Jersey, Waterfront — one office tower and one conventional multifamily community. All business operations at Michaels — including development, property management, construction and investment — will continue as usual. Mark Morgan, who …
New Brunswick, N.J. — TSB Capital Advisors has arranged a refinancing for VERVE, a 696-unit student housing community located near Rutgers University’s main campus in New Brunswick. The fixed-rate loan, which features a future funding component, was provided by an affiliate of QuadReal Property Group. VERVE is owned by a joint venture between The Scion Group and PGIM Real Estate. Constructed in 2020, the community offers single- and double-occupancy units in studio through five-bedroom configurations. Shared amenities include a state-of-the-art fitness center, private and group study lounges, gaming spaces, a …
Atlantic City, N.J. — A public-private partnership between Stockton University and the Atlantic City Development Corp. has opened a 416-bed residence hall on the university’s campus in Atlantic City. The six-story, 135,000-square-foot building offers apartment- and suite-style units with lounges, a meeting room, business center and laundry facilities. The development is Phase II of the Atlantic City Gateway Project, a multi-phase development which has included the construction of a three-story academic center and two additional residence halls offering a total of 543 beds. The project team includes structural engineering firm …
Ewing, N.J. — The PRC Group has received an $88.4 million refinancing for Campus Town at TCNJ, a 612-bed student housing community located near The College of New Jersey campus in Ewing. John Banas, Kristopher Wood, Christopher Philipps, Rhett Saltiel, Erik DiGirolamo and Sean Bailey of Walker & Dunlop secured the financing. The property offers 184 units alongside 78,787 square feet of ground floor retail space.
Newark, N.J. — A public-private partnership between RISE: A Real Estate Co. and the New Jersey Institute of Technology has completed Maple Hall, a 548-bed residence hall on the university’s Newark campus. The eight-story development was designed to appeal to upperclassmen and graduate students and includes a game room, an outdoor terrace, full kitchens, private and group study rooms, a creative studio, an outdoor kitchen and on-site parking. The community also features 2,145 square feet of retail space. RISE will provide ongoing property management at Maple Hall, which opened before …
Camden, N.J. — Michaels has hired Rosa Estrada as vice president of development. Estrada will work out of the Camden, New Jersey-based company’s Mid-Atlantic regional office. She brings over 20 years experience in urban planning, placemaking and mission-driven affordable development. Prior to joining Michaels, Estrada spent five years with Wesley Housing where she served as director of real estate development, responsible for managing a team of developers through development concept, acquisition, entitlements, underwriting, design and construction closing of 350 units worth $133 million.
Bloomfield, N.J. — QX Global Group, a Bloomfield-based business process outsourcing company, has acquired an 80 percent stake in Austin, Texas-based Chazey Partners, a management consulting and advisory firm specializing in business and digital transformation. The Chazey Partners team brings decades of experience in implementing and operating business support and shared services organizations around the globe, with experience in robotic process automation (RPA) and artificial intelligence (AI). Together, QX and Chazey Partners will work to deliver solutions that cover consulting, digital services and business process outsourcing. Clientele includes student housing …
Chicago — The Scion Group and PGIM Real Estate have formed a joint venture partnership and completed the acquisition of two student housing communities totaling 1,244 beds. Acquisitions include Verve, a community located near the Rutgers University campus in New Brunswick, New Jersey; and Aero on 24th, a property serving students attending the University of Florida in Gainesville. TSB Realty provided advisory services to the sellers in connection with the transaction. Verve offers a mix of studio, two-, three-, four- and five-bedroom, fully furnished units. Shared amenities include a 24-hour …
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