MOUNT LAUREL, N.J. — JLL Capital Markets has arranged the sale of Mount Laurel Crossing, a 296-unit community in the Philadelphia suburb of Mount Laurel. Colony Hills Capital, an investment management firm based in Wilbraham, Massachusetts, purchased the asset for $80 million. JLL represented the undisclosed seller in the deal.
Fran Coyne, Carl Fiebig, Jose Cruz, Mike Oliver, Samantha Kupersmith and Tyler Margraf led the JLL Capital Markets Investment Sales and Advisory team.
Mount Laurel Crossing was built in 1999. The property offers one-, two- and three-bedroom units. The average unit size is 944 square feet. Amenities include a pool, outdoor lounge area with a fire pit, dog park, fitness center and a clubhouse with a business center.
The property is also within walking distance of the community association’s park, which features tennis courts, pickleball courts, basketball courts, a baseball field, open field and children’s play area. The property was 98 percent leased at the time of sale.