Morristown Station, an 89-unit luxury apartment complex by Bijou Properties next to the town’s NJ Transit’s station is closer to reality thanks in part to the efforts of FBT Gibbons’ real estate team, which helped secure a $40 million construction loan.
The planned project, which has been in the works for years, is set to include 76 market-rate and 13 affordable housing units. It also will feature 5,000 square feet of ground-floor retail space.
The five-story building is slated to be constructed on the triangular parcel at One Lackawanna Place.
FBT Gibbons represented Bijou Properties on the acquisition of the several lots that comprise the project, which included obtaining a vacation by the Town of Morristown of a portion of a public right-of-way to make the project feasible.
The success on the project illustrates the impact of FBT Gibbons, which was created at the start of the month by a merger of Gibbons and Frost Brown Todd.
FBT Gibbons is now a national law firm (with nearly 800 attorneys in 25 offices across the country) focused on serving companies operating and investing in the middle market.
FBT Gibbons’ real estate team is more than 100 strong — representing developers, owners, equity investors, home builders, lenders government entities and other real estate professionals in all aspects of real estate ownership, finance, development, management and disposition.
The FBT Gibbons team that included Andrew Camelotto, Israel Pollack, Adam Morsy, Griselda Hodaj and Alexander Morganstern are working on this project.
