Cushman and Wakefield Secures $29M Equity Financing for Acquisition of New Jersey Multifamily Community

Cushman and Wakefield Secures $29M Equity Financing for Acquisition of New Jersey Multifamily Community

Cushman & Wakefield, a leading real estate advisory firm, has successfully advised Colony Hills Capital and Balfour Beatty Communities in securing a $29 million equity financing package from Heitman. This funding will be used for the acquisition of Mount Laurel Crossing, a 296-unit multifamily community located in Mt. Laurel, NJ with an estimated value of $79 million.

The property was built in 1999 and offers one-, two-, and three-bedroom units with an average size of 944 square feet. At the time of sale, it boasted an impressive occupancy rate of 98%. The new owners have plans to enhance both the interior and exterior features by adding amenities such as a resort-style pool, outdoor lounge area, dog park, clubhouse,and detached garages.

In addition to these upgrades,the community is conveniently situated near a park that offers various recreational activities including tennis,pickleball,basketball courts,a baseball field,and open play areas for children.The Cushman & Wakefield Equity Debt & Structured Finance team consistingof John Alascio,Alex Hernandez,Aaron Graves,and John Spreitzer facilitated this equity financing deal on behalf of Colony Hills Capital.

This successful transaction highlights Cushman & Wakefield’s expertise in arranging complex financial deals for their clients’ benefit without mentioning any specific location or company names.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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