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Berkshire Makes First Buy in Princeton/Trenton Area

Berkshire Group has acquired Steward’s Crossing, a 240-unit garden-style apartment community in Lawrenceville, NJ. It’s Berkshire’s first acquisition in the Princeton/Trenton area.

Terms of the deal weren’t disclosed. “We feel the property is an excellent choice for our portfolio because of the demand in the area generated by its proximity to diverse employment,” said Berkshire’s Kel Frazier.

HFF’s Michael Oliver, Jose Cruz, Kevin O’Hearn and Steven Simonelli, all working closely with a Philadelphia-based team of Mark Thomson, Carl Fiebig and Fran Coyne, marketed the property on behalf of the seller, Merion Realty Partners and a joint venture partner.

“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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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