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$70.4M Sale Of NJ Mall Means $155.7M Loss For Investors, Report Says $70.4M Sale Of NJ Mall Means $155.7M Loss For Investors, Report Says
$70.4M Sale Of NJ Mall Means $155.7M Loss For Investors, Report Says Seventy million may seem like a lot. But context is everything. New Jersey's troubled Woodbridge Center sold to an unnamed buyer for $70.4 million in February, according to credit-rating firm Kroll. While the sale resolved a loan issue, investors suffered a $155.7 million loss, Kroll Bond Rating Agency (KBRA) said. In 2015, the 1.7 million-square-foot mall was acquired by Brookfield when it was appraised at $366 million, according to CoStar, a DC-based commercial real estate firm that analyzes market trends. The February 2024 sale was even lower than its most recent appraisal last Oct…

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by Cecilia Levine
News
SALE PENDING: Toby's Cup In Phillipsburg Will Soon Have New Owners SALE PENDING: Toby's Cup In Phillipsburg Will Soon Have New Owners
Sale Pending: Toby's Cup In Phillipsburg Will Soon Have New Owners Sales are pending for Toby’s Cup, a small and beloved hot dog stand in Phillipsburg. The family-run shack that opened back in the 1940s on Route 22 will soon be under new ownership, LehighValleyLive reports. The buyer is 37-year-old Livingston (Essex County) native Daniel Risis, who reports say owns a successful pawnshop business in the Garden State and is the “driving force” behind an up-and-coming flea market outlet in Phillipsburg. The sale of Toby’s Cup includes the stand itself along with the surrounding area on Route 22 in Lopatcong Township, reports say. The sale price has not been…

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by Valerie Musson