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New York & Tri-State  + New Jersey  + Finance  | 

JV of Denholtz, Redwood Real Estate Moves Ahead on Bound Brook Apartments

A joint venture between Denholtz Properties and Redwood Real Estate Group is moving ahead with the $50-million construction of a 143-unit, Class A transit-oriented multifamily development in Bound Brook, NJ. Buckingham Advisors placed $18 million of equity from a combination of Skydeck Capital, a private investment firm based in Chicago which served as the lead investor, and RevOZ, led by Alex Bhathal the co-owner of the Sacramento Kings NBA Franchise.  

“Skydeck Capital is excited to partner with the sponsorship in delivering innovative housing solutions to downtown Bound Brook, NJ,” said Evan Wood, Principal with Skydeck Capital. 

The site benefits from a 25-year PILOT Program and its location in a Qualified Opportunity Zone. “Aside from the significant tax benefits, this is a long-term play on the upside of these submarkets, which we feel are in the second inning of growth,” said Simon Goldstein, principal of Buckingham Advisors.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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