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HFF Arranges $24.8M in Financing for Condominium Development in Morristown, New Jersey

30-Court-Morristown-NJ

Slated for completion in 2019, 30 Court in downtown Morristown, N.J., will feature for-sale two-bedroom condominiums ranging from 1,276 square feet to 1,939 square feet.

MORRISTOWN, N.J. — HFF has secured $24.8 million in financing for the development of 30 Court, a condominium community located in downtown Morristown. The borrower is DRA 30 Court LLC, a joint venture between Diversified Realty Advisors and a private investor. Michael Klein and Jon Mikula of HFF arranged the 30-month construction loan with Investors Bank for the borrower. Slated for completion in 2019, the property will features for-sale two-bedroom homes ranging from 1,276 square feet to 1,939 square feet. Units will feature kitchens with granite countertops, wood cabinetry, central air conditioning, hardwood floors and in-house washers and dryers. Additionally, the property will feature a two-story, 131-space parking garage and a half-acre outdoor recreational space.

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