65
MORRISTOWN, N.J. — Hartz Mountain Industries (HMI) has acquired a New Jersey apartment community for $32 million. Morris Crossing is located at 12-18 Max Drive in Morristown. It contains 123 townhome-style units in six buildings. Last year, it underwent a $4.4 million renovation. The CB Richard Ellis (CBRE) team of Jeffrey Dunne, Christopher Leonard and Brian Schultz represented HMI in the transaction. James Gunning and Donna Falzarano of CBRE Debt & Equity Finance assisted HMI in arranging $22 million in acquisition financing. Terms of the loan were not disclosed.