Cushman & Wakefield has advised Colony Hills Capital and Balfour Beatty Communities in securing a $29 million equity financing package from Heitman and a common equity partnership for their $79 million acquisition of Mount Laurel Crossing, a 296-unit multifamily community in Mt. Laurel, NJ. Freddie Mac provided a $55.3 million fixed-rate senior loan for the acquisition.  

The property, built in 1999, features one-, two-, and three-bedroom units with an average size of 944 square feet and was 98% leased at the time of sale. The new owners plan to renovate the interiors and improve exteriors, including adding amenities like a resort-style pool, outdoor lounge, dog park, clubhouse, and detached garages.  

The community is located near a park with tennis, pickleball, and basketball courts, a baseball field, an open play field, and a children’s play area. A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Alex Hernandez, Aaron Graves and John Spreitzer orchestrated the equity financing on behalf of Colony Hills Capital.