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**Veris Residential Sells Signature Place Apartments in Morris Plains for $85M**
CBRE Institutional Properties has announced the successful sale of Signature Place, a luxury apartment community located in Morris Plains, New Jersey. The $85 million transaction was arranged by CBRE’s Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, and Travis Langer, in collaboration with Roland Merchant and Tom Pryor from CBRE’s Investment Banking team. The CBRE team represented Veris Residential, the seller, in the deal.
Signature Place, completed in 2018, comprises 197 apartment units with an average size of over 1,000 square feet. The property features upscale finishes and an extensive array of amenities, including a resort-style swimming pool, state-of-the-art fitness center with yoga studio, golf simulator, private movie theater, conference rooms, pet spa, and a clubroom with a fireplace and game tables.
Strategically located just 10 minutes from downtown Morristown—one of suburban New Jersey’s most vibrant urban centers—Signature Place sits within the highly affluent Morris County market. CBRE Vice Chairman Jeffrey Dunne noted, “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.”
The sale reflects continued investor interest in high-quality, well-located multifamily assets in strong suburban markets.
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