The firm worked on behalf of the borrower to secure a seven-year, floating-rate loan through PGIM Real Estate.

Marcus & Millichap arranged the sale of the building, which had been owned and operated by the same investor for 40 years.

The firm marketed the 45-unit property on an exclusive basis, with Vice President Julie Gralla handling the assignment and procuring the buyer.

The luxury living option from BNE Real Estate has surged past the 70%-leased mark after opening its doors just six weeks ago.

“We are recognizing and rewarding the leaders who are driving and enabling our expansion," Executive Managing Director Zach Solomon said in a statement. "As such, these promotions are a window into the workings and the status of our company."

A commercial building was razed at the property to make way for the municipality's first luxury rental apartments.

The New Jersey developer announced projects for the Northern Liberties and University City neighborhoods, with a third site also under contract that is expected to add at least another 118 residences in another prime location.

Initial occupancy at the 98-unit property from locally based Skye Development LLC is expected for July 1.

JLL Capital Markets arranged the financing, which will kick off the transformation of the Lanidex Plaza Office Park into a mixed-use development with luxury living, retail space, townhouses, Class A office space, and athletic fields.

Last week, the development helped to celebrate the start of work that will bring a commuter ferry steps from its doors. Now, the property from BNE Real Estate Group has its own milestone to recognize.

The Woodbridge-based firm marketed the property on an exclusive basis and procured the purchaser, a longtime client marking their entrance in the area.

The appointment of company veteran Karen Cusmano to the new position was accompanied by the release of the Jersey City-based REIT's 2021 Environmental, Social, and Governance report, which highlighted an 18% decrease in energy consumption by the company from 2019 levels.