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.
