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HFF arranges financing of Morristown condo development

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Rendering of 30 Court, Morristown.
Rendering of 30 Court, Morristown. - ()

Working on behalf of DRA 30 Court LLC -- a joint venture between Diversified Realty Advisors and a private investor -- Holliday Fenoglio Fowler has arranged $24.8 million for a 58-unit condominium development in Morristown.

HFF’s Michael Klein and Jon Mikula represented the joint-venture and placed the 30-month construction loan with Investors Bank.

30 Court will consist of two-bedrooms and for-sale homes ranging from 1,276 to 1,939 square feet. The property will also feature a two-story, 131-space parking garage.

30 Court is located within walking distance to the Morristown Green is slated for completion in 2019. The development is located one-half mile from the Morristown Train Station and 6 miles from I-287 and I-80.

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Mario Marroquin

Mario Marroquin

Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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