NEW JERSEY—MFREVF Aberdeen Urban Renewal LLC has acquired Avalon at Aberdeen Station, a 290-unit, class A multihousing community in Aberdeen, N.J. for approximately $66.3 million.
HFF marketed the property on behalf of the seller, AvalonBay Communities.
A transit-oriented development located at 1000 Central Ave., Avalon at Aberdeen Station is situated next to the Aberdeen-Matawan train station and along the Garden State Parkway.
Constructed in 2002, the four-story property is currently 96 percent leased and features one- and two-bedroom units averaging 1,021 sq. ft. each. Amenities at the complex include a clubhouse, 24-hour fitness center, media room, business center, outdoor heated pool and sundeck with barbeque grills.
The HFF investment sales team representing the seller was led by Jose Cruz and Andrew Scandalios, senior managing directors, Kevin O’Hearn and Jeffrey Julien, managing directors, and Associate Director Michael Oliver.