M&T Realty Capital unveiled the deal for the fully leased luxury community located in The Heights, adjacent to Riverview Park.

JLL arranged the loan for Nest Micro Apartments, a six-story collection of 122 studio residences located in Journal Square.

“When we took office, we really had a pro-development stance because we recognized that a healthy city is a growing city,” Jersey City Mayor Steven Fulop said. “You just need to look around us right here at 351 Marin and there aren’t many cities in the state that can absorb two 50-story buildings going up across the street from each other simultaneously and at the same time, a crane half a block away creating another building of similar size. It speaks to the vibrancy of Jersey City and the special place it is and that people want to live here and do business here and KRE Group makes it very easy for us to be partners."

On May 10, JLL Capital Markets announced it closed on the non-recourse construction-to-perm package for the property at 532 Summit Ave. on behalf of the borrowers, Urby and Panepinto Properties

Veris Residential launched leasing at its first property to be delivered since it rebranded from Mack-Cali in December. The Jersey City building embodies the company's focus on environmentally and socially conscious efforts.

"It's nice to finally be recognized as a whole for the work that all of these individual restaurants and chefs are doing all these years. It in many ways is a team effort to be recognized as a city. You can't get recognized with just one restaurant. Many work together to create the food and culture and nightlife here," said Mayor Steven Fulop.

The firm's Capital Markets team arranged the funding on behalf of the joint venture behind the property, comprised of The Hampshire Cos., Claremont Development and Circle Squared.

The six-story boutique building is welcoming residents to the city's Bergen-Lafayette neighborhood.

The deals with two separate insurance providers bring the eighth floor at 499 Washington Blvd. to near full occupancy.

JLL Capital Markets represented the seller, Hartz Mountain Industries Inc., and procured the buyer for the 136,000-square-foot property.

“We made a big bet on the West Side, believing that the positive transformation that has taken place here in recent years paved the way for a top-of-market rental building with an extraordinary amount of indoor and outdoor amenities and high-level services,” said Art Johnson, a principal of 400 Claremont LLC, which developed 3 Acres. "We’re thrilled that the bet has paid off in terms of the overwhelming public reaction."

There's a new place to call home in the city's Bergen-Lafayette neighborhood, with 114 residences and a suite of indoor and outdoor amenities.