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Commercial Mortgage Capital secures $34M in Morris real estate financing

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Livingston-based Commercial Mortgage Capital announced Wednesday the financing of two New Jersey projects for a total of $34 million.

In an announcement, the company said it secured an $18 million self-liquidating loan for a 400 unit multifamily complex in Parsippany. It also obtained a $16 million, 10-year self-liquidating loan for a 140,000-square-foot single-tenant office building in Florham Park. According to the announcement, this loan is subject to a 2.87 percent rate.

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