Apartment complex in Princeton Junction sells for $92M+

A luxury multihousing community in Princeton Junction sold for $92.15 million, real estate firm JLL Capital Markets said in a news release.

Parc at Princeton Junction, a 232-unit apartment complex located at 3000 Goldfinch Drive, was a joint venture between Toll Bros. Apartment Living and the Davis Cos., JLL said.

The building was completed in 2018 and features ground-floor retail space, the firm said.

“The Princeton multihousing submarket has shown incredible fundamentals over the last 12 months, with strong occupancy and outsized rent growth,” JLL Managing Director Michael Oliver said. “Coupled with the strong capital markets environment, this has resulted in incredible demand in the area from the investment community.”

The team of Oliver, Jose Cruz, Kevin O’Hearn and Steve Simonelli marketed the property on behalf of the seller, JLL said. It was sold to a private buyer.