Murray Hill Medical Office Building refinanced

MORRISTOWN, N.J., June 1, 2026 – JLL Capital Markets announced today that it has arranged financing for Murray Hill Medical Office Building, a 48,312-square-foot property in New Providence, New Jersey.

JLL worked on behalf of the borrower, MEARJ Properties, to secure the senior financing through a life insurance company relationship.

Murray Hill Medical Office Building is a single-story property featuring an interior atrium, outdoor courtyard and ample parking for more than 200 cars.  At 95% leased, the building is anchored by Atlantic Health Group and New Providence Dentistry, along with other wellness and specialty healthcare providers. Many of the tenants have been at the property for more than 10 years and have invested heavily in their spaces, reinforcing their long-term commitment to the property.

Located at 571 Central Ave, the property is strategically positioned close to three major hospital systems: Overlook Medical Center, Cooperman Barnabas Medical Center and Morristown Medical Center, which provide a steady patient flow for outpatient services. The 4.05-acre site is also easily accessible via a network of major thoroughfares, including Interstate 78, Route 22 and NJ Route 28.

JLL’s Capital Markets Debt Advisory team representing the borrower was led by Director Ryan Carroll and Analyst Matthew McManus.

“This financing underscores the strong lender appetite for well-positioned medical office assets,” said Carroll. “The property's diversified healthcare tenant base and strategic proximity to major hospital systems in a supply-constrained market made it highly attractive to life insurance company capital seeking stable, healthcare-anchored assets.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.