HFF announces sale of 240-unit apartment complex in Lawrenceville

Holliday Fenoglio Fowler L.P. announced the sale of a 240-unit multihousing community in Lawrenceville.

The HFF team marketed Steward’s Crossing on behalf of the seller, Merion Realty Partners and a joint venture partner. Berkshire Group purchased the asset.

The property, which totals 240 homes spread throughout 12 buildings and 24 acres, is located at 1000 Stewards Crossing Way and is within close access to Route 1 and Interstates 95 and 295. It has amenities including a clubhouse, 24-hour fitness center, tennis court, swimming pool, outdoor lounge with Wi-Fi, grilling area, dog park, walking paths and parking.

Michael Oliver, Jose Cruz, Kevin O’Hearn and Stevn Simonelli of HFF’s investment adivsory team worked closely with Mark Thomas, Carl Fiebig and Fran Coyne of HFF’s Philadelphia multihousing team.

“The greater Princeton area has incredible fundamentals and is one of the New Jersey’s strongest multi-housing submarkets,” Oliver said.  “We have seen an increased appetite from institutional capital within the region. Berkshire will have great success continuing the efforts of the sellers at the property.”