AvalonBay Communities has sold Avalon Tinton Falls, a 216-unit, class A garden-style apartment property in Tinton Falls, Monmouth County, N.J.
A private investor purchased the asset free and clear of existing financing. A sales price was not disclosed.
Avalon Tinton Falls is situated on 35 acres at 100 Autumn Drive, less than one mile from Exit 100B of the Garden State Parkway, which offers unmatched regional accessibility. The community is also near affluent beach communities, including Spring Lake, Sea Girt and Avon-by-the-Sea, and there are more than 3.3 million square feet of class A corporate office parks within a 10-mile radius. Completed in 2008, the property has been institutionally maintained and comprises contemporary amenities, including a clubhouse with a modern fitness center, swimming pool with sundeck, playground, car care center, lounge, grilling stations and dog park. Units include a diverse mix of one-, two- and three-bedroom floor plans averaging 1,1
