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| Lisa Daily |
PHILADELPHIA, PA – JLL Capital Markets announced the $80 million sale of Mount Laurel Crossing, a 296-unit apartment community located in Mount Laurel, New Jersey.
JLL represented the seller in this transaction, while Colony Hills Capital, based in Wilbraham, Massachusetts and Balfour Beatty acquired the multifamily asset.
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| Samantha Kupersmith |
Residents of Mount Laurel Crossing enjoy a range of amenities, including a resort-style swimming pool, an outdoor lounge area with a fire pit, a dog park, a clubhouse with a business center, detached garages, a 24-hour fitness center and BBQ grills.
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| Fran Coyne |
Tenants are also within walking distance of the community association's park, which offers tennis courts, pickleball courts, basketball courts, a baseball field, an open field and a children's play area.
Conveniently located at 1 Larchmont Place, the property also provides superior access to major employment hubs and entertainment destinations with close proximity to major roadways serving South Jersey, such as Routes 38, 70, 78, Interstate 295 and the New Jersey Turnpike.
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| Carl Fiebig |
The submarket's robust fundamentals are further bolstered by the presence of prominent regional employers such as Joint Base McGuire-Dix-Lakehurst, TD Bank, Freedom Mortgage, Automotive Resources International and more.
“We are thrilled to add this community to our multifamily portfolio. Mount Laurel Crossing’s neighborhood appeal coupled with the economic diversity and strength of the greater MSA makes this a perfect fit for our investment strategy,” said Lisa Daily, SVP of Multifamily Acquisitions for Balfour Beatty.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Fran Coyne, Carl Fiebig and Jose Cruz alongside Managing Director Mike Oliver, Senior Director Samantha Kupersmith and Director Tyler Margraf.
"We are thrilled to have facilitated the $80 million sale of Mount Laurel Crossing," said Coyne. "This transaction underscores the strong desirability of the Mount Laurel submarket and the appeal of well-maintained, amenity-rich multifamily properties."
Jose Cruz
“The opportunity attracted a diverse mix of private and institutional capital, resulting in a highly competitive sale process,” added Fiebig.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
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| Mike Oliver |
For more news, videos and research resources, please visit JLL’s newsroom.
About Colony Hills Capital
Colony Hills Capital is a real estate investment company focused on the acquisition, ownership and management of value-add garden style multifamily properties in primary and secondary markets; investments that improve our resident’s lifestyles and provide consistent returns for our investors.
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| Tyler Margraf |
Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.
We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
Contact:
Grace Lewis
PR, Capital Markets
JLL
2401 Cedar Springs Rd.
Dallas, Texas 75201
M +1 903 520 3478
