All Posts Tagged With: "asbury park new jersey"

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iStar Financial Takes Over Asbury Partners

I’ve written about Asbury Park’s redevelopment in the past, because of my personal attachment to the town I grew up in (even if it wasn’t the greatest place for a kid to ride his bike around the block). Asbury Park always seems to be on its way to a renaissance, and then some external factor comes and sets it back a few years.

I’ve just learned that Asbury Partners, the Master Developer of the town has essentially been foreclosed upon by its lender: iStar Financial. With that, iStar is taking over the Master Developer designation. Sounds great right?

Well – unless I’m mistaken.. iStar is a real estate finance company. Not a developer.

Nov. 26, 2009 | Andrew Calvo | View Comments | Continued