Shamah Properties Acquires 123-Unit Apartment Community in Morristown, New Jersey

MORRISTOWN, N.J. — Shamah Properties has acquired Morris Crossing Apartments, a 123-unit multifamily community in Morristown, located approximately 25 miles west of New York City, for $39.5 million. Morris Crossing is a six-building community that comprises 82 one-bedroom, 31 two-bedroom and 10 three-bedroom units. The property was 96 percent occupied at the time of sale. Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Michael Oliver and Grace Braverman of JLL represented Shamah Properties in the transaction. The team also represented the seller, Morris Crossing Apartments LLC, in the transaction.