
JLL Closes Parsippany Apartment Sale to DSF Group
JLL Capital Markets closed the $82.5-million sale of The Mark Parsippany, a 212-unit, four-story, Class A, luxury apartment community in Parsippany, NJ. JLL’s Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver and Joseph Lembo represented the seller, an affiliate of Harbor Group International. An affiliate of The DSF Group acquired the asset.
“The Mark presented an opportunity for investors to acquire an institutional quality asset in a submarket with strong demographics,” said Cruz. “The capital responded very favorably to the offering.”
Located at 1715 U.S. Rte. 46, the property benefits from its convenient access to Route 46 and nearby Route 10, two of North Jersey’s major thoroughfares. The property is a short drive from downtown Morristown’s boutique shops, high-end retailers and over 75 bars/restaurants. Additionally, The Mark allows easy access to the Morristown CBD and is just 35 miles west of New York City.
- ◦Sale/Acquisition