The American Road property in Morris Plains was recently involved in a closed transaction. The multifamily asset consists of 125 units and spans across 112,378 square feet. The transaction involved an acquisition loan amounting to $30,700,000. The property is located at 1000 The American Road and is owned by Shamah Properties. The transaction was facilitated by Morris Betesh and Alex Bailkin from Meridian Capital Group. Valley National Bank served as the lender in this deal.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $30,700,000
• Units: 125
• Square Footage: 112,378
• Address: 1000 The American Road, Morris Plains
• Market: Morris Plains

The successful completion of this transaction was made possible by the collaborative efforts of Morris Betesh and Alex Bailkin from Meridian Capital Group, who represented the buyer and seller respectively. Their expertise and negotiation skills played a crucial role in closing the deal.