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New York & Tri-State  + New Jersey  + Apartments  | 

Veris Divests Morris Plains Apartments for $85M

Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE Institutional Properties, in partnership with Roland Merchant and Tom Pryor of CBRE’s Investment Banking team, recently closed the sale of Signature Place, a Class A multifamily community in Morris Plains, NJ. CBRE advised owner Veris Residential on the $85-million sale.

Built in 2018, Signature Place contains 197 apartments averaging more than 1,000 square feet. The property features luxury finishes and an extensive amenity package, including a resort-style pool, fitness center with a yoga studio, golf simulator, private movie theater, conference rooms, a pet spa and a clubroom with a fireplace and game tables.

The property is situated within a 10-minute drive of downtown Morristown, one of suburban New Jersey’s premier 24/7 downtowns. “Signature Place benefits from its location in affluent Morris County, only a few minutes from downtown Morristown, which bodes well for the purchaser’s investment,” said Dunne.

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CBRE's Dunne

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition