Pacific Urban Residential has acquired Highlands at Morristown Station, a 217-unit property in Morristown, New Jersey, for $97.9m. Pacific Urban Residential. The property traded for just over $451,152 per unit. Built in 2010, the six-story building includes 7,500 sq ft of ground-floor retail leased to Cambridge Wines and The Godfather Pizzeria. The deal was completed with a $49m Fannie Mae loan that was provided by Lincoln Financial Group.
