Property
Avalon at Freehold
Location
Freehold, New Jersey
Size
296 Units
Value
$68M
Type
Sale

Avalon at Freehold

BlueGate Partners (“BlueGate”) has been retained on an exclusive basis to arrange for the sale of Avalon at Freehold, a luxury garden-style apartment community containing 296 apartment homes in Freehold Township, New Jersey (the “Property” or “Community”). Completed in 2002, the Property contains one-, two-, and three-bedroom layouts throughout twenty, two-story buildings, in addition to a resident clubhouse. The Property’s twenty unique floor plans feature dining rooms, in-unit washer/dryers, spacious walk-in closets, and private balconies or patios. Apartments range in size from 750 to 1,322 square feet, with an average size of 1,072 square feet, and select apartment homes feature desirable loft layouts and/or fireplaces. Set in a tranquil suburban setting, this quaint community is less than 25 minutes from the Atlantic Ocean and one hour from both New York City and Philadelphia, offering residents access to the employment, lifestyles and attractions of two distinct major metropolitan areas. With a total of 266 market-rate homes that have not been renovated to date, and an additional thirty affordable apartments, the Community represents a unique opportunity to acquire a large, stabilized property with upside potential through renovation.