BlueGate Partners, LLC (“BlueGate”) is pleased to
announce the successful sale of Avalon at Freehold, a luxury garden-style
apartment community containing 296 apartment homes located in Freehold Township,
New Jersey (the “Property”). 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.
Representing the seller, AvalonBay Communities,
BlueGate sold the Property to Eagle Rock Properties for a total of $68,000,000.
BlueGate is a boutique real
estate investment banking firm with offices in New York and Palm Beach, and
offers services in the areas of investment sales, portfolio and property
financing, and debt and equity capital raising for real estate projects.