JLL Capital Markets recently facilitated the sale of The Forge at Glassworks, a luxury market-rate community in Aberdeen Township, Monmouth County, NJ. The property was sold for $57 million and was represented by senior managing directors Jose Cruz, Michael Oliver and Steve Simonelli along with directors Elizabeth DeVesty and Austin Pierce from JLL. Beachwold Residential was arranged as the buyer while Ingerman Group served as the seller.
The garden-style multifamily community is located at 118 Glassworks Blvd. It features one- and two-bedroom apartments as well as three-bedroom townhome units. With its prime location just a mile away from Exit 120 off the Garden State Parkway, residents have easy access to major highways and NJ Transit’s Aberdeen-Matawan Station. Currently boasting an impressive occupancy rate of 98.2%, it is clear that this property offers desirable living options for tenants.
According to Cruz, this acquisition highlights investors’ continued interest in well-positioned multifamily properties within New Jersey’s real estate market. He also noted that The Forge at Glassworks stands out due to its advantageous location, strong market fundamentals,and premium amenities which make it highly sought-after in today’s competitive landscape.
