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Colony Hills Capital, Balfour Beatty acquire multifamily community in Mount Laurel, N.J. for $80m
Transactions - JULY 3, 2024

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Colony Hills Capital, Balfour Beatty acquire multifamily community in Mount Laurel, N.J. for $80m

by Denise Moose

Colony Hills Capital and Balfour Beatty announced the acquisition of Mount Laurel Crossing, a 296-unit apartment community located in Mount Laurel, N.J. for $80 million.

JLL represented the seller in this transaction.

Mount Laurel Crossing, built in 1999, is 98 percent leased, offering one-, two- and three-bedroom units, with an average size of 944 square feet. Residents of Mount Laurel Crossing enjoy a range of amenities, including a resort-style swimming pool, an outdoor lounge area with a fire pit, a dog park, a clubhouse with a business center, detached garages, a 24-hour fitness center and barbeque grills. Tenants are within walking distance of the community association's park, which offers tennis courts, pickleball courts, basketball courts, a baseball field, an open field and a children’s-play area.

Located at 1 Larchmont Place, the property provides access to major employment hubs and entertainment destinations, and is near major roadways serving South

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