CAPRE’s Commercial Real Estate Headlines for November 8, 2019

Check out the latest deals and developments in commercial real estate for November 8, 2019: Morris Crossing Apartments Change Hands for $39.5 Million USD: JLL has also closed the $39.5 Million USD sale of Morris Crossing Apartments, a 123-unit, garden-style apartment community in Morristown, NJ, JLL marketed the property exclusively on behalf of the seller, Morris Crossing Apartments, to Shamah Properties. Morris Crossing is a six-building, institutional-quality community that comprises 82 one-bedroom, 31 two-bedroom and 10 three-bedroom units averaging 948 square feet. The 12-acre property is situated on a tranquil cul-de-sac just off Route 202, approximately one mile northwest of Morristown’s vibrant downtown. Morris Crossing is also located within one mile of both the Morris Plains and Morristown train stations, which provide direct service into Manhattan, and is close to Interstate 287 and various amenities. Features include wood-burning fireplaces, private garages, in-unit washers and dryers, central air conditioning and heating, and hardwood flooring. The property is 96% leased. Greystone Provides $10.8 Million USD in Fannie Mae DUS Financing for Minneapolis Multifamily Acquisition: Greystone, a leading national commercial real estate lending, investment and advisory company, announced it has provided a $10.8 Million USD Fannie Mae Delegated Underwriting and Servicing loan for the purchase of Brunsfield North Loop, a multifamily property in Minneapolis, Minnesota. The loan was originated by Kyle Jemtrud, on behalf of Phoenix – North Loop, LLC, with Abe Roberts of Marcus & Millichap acting as a correspondent.  The $10,800,000…