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.