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| Elizabeth DeVesty |
MORRISTOWN, NJ – JLL Capital Markets has closed on the sale of Addison at Princeton Meadows, a 440-unit, garden-style multi-housing community located in Plainsboro, New Jersey.The price was not disclosed.
 |
| Jose Cruz |
JLL worked on behalf of the seller, a joint venture between the real estate business within Goldman Sachs Asset Management and Kushner Real Estate Group.
The JLL Capital Markets Investment Sales and
Advisory team representing the seller was led by Senior Managing Directors Jose
Cruz, Steve Simonelli and Michael Oliver and Director Elizabeth
DeVesty.
Built in 1979, Addison at Princeton Meadows
consists of studio, one- and two-bedroom apartment homes across 28, two-story
buildings.
The majority of units have undergone recent renovations and include stainless steel appliances, updated backsplash and countertops, hard flooring, patios/balconies and in-unit washers and dryers.
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| Steve Simonelli |
Additionally, the community is fully approved for the construction of a state-of-the-art clubhouse, which will house a new fitness center and lounge for residents.
Located at 2821 Pheasant Hollow Dr., Addison at Princeton Meadows is in the Princeton submarket and is adjacent to an 18-hole golf course, The Meadows at Middlesex.
The property is situated just minutes from downtown Princeton’s shops, restaurants and top-tier schools, which includes the prestigious Princeton University.
The community is less than
three miles from the Route 1 corridor, one of the strongest commercial
corridors in the state, and is also less than five miles from the Princeton
Junction train station, providing access to New York Penn Station or
Philadelphia in less than one hour.
Michael Oliver
CONTACT:
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356
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