An affiliate of The DSF Group acquired The Mark Parsippany for $82.5 million, JLL Capital Markets announced July 26.
JLL represented the seller, an affiliate of Harbor Group International LLC (HGI), in the transaction for the 212-unit, four-story Class A apartment community located at 1715 U.S. Route 46 in Parsippany.
The JLL Capital Markets Sales and Advisory team representing the seller was led by Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver and Joseph Lembo.
“The Mark presented an opportunity for investors to acquire an institutional quality asset in a submarket with strong demographics. The capital responded very favorably to the offering,” Cruz said in a statement.
With a mix of studio, one- and two-bedroom apartments averaging 911 square feet, The Mark Parsippany is situated a short drive from downtown Morristown with direct access to Route 46. Residences offer stainless steel appliance packages, wood-look plank flooring, walk-in showers, chef-inspired kitchens with quartz countertops and islands, high-end custom cabinetry, keyless entry and full-size washers and dryers.