Wilbraham, MA. Colony Hills Capital announced the June 13, 2024, purchase of its second New Jersey multifamily property, Mount Laurel Crossing Apartments, a 296-unit Class A-garden-style apartment community in the affluent community of Mount Laurel. With this new acquisition, Colony Hills Capital has over $1.3 Billion in transactions, $700 million in assets under management, and over 12,500 apartment units transacted. “This acquisition aligns with our investment strategy, presents an attractive value-add opportunity in a high-growth market, further diversifies our portfolio, provides our investors with an attractive risk-adjusted return profile, and enhances the living experience for our residents.” Glenn Hanson, Founder and CEOProperty improvements will include minor to substantial renovations of all units, remodeling common areas, adding amenities, and expanding the fitness center. They will also include installing EV charging stations, enhanced landscaping, and new signage. Current resident amenities include a resort-style swimming pool, outdoor lounge, dog park, clubhouse, and detached garages.The Mount Laurel area is known for its highly sought-after school districts and upscale single-family homes and has demonstrated consistent rental performance. Colony Hills' value-add strategy will continue to attract residents seeking high-quality living spaces and a comprehensive suite of amenities, driving rent growth and increasing the property's value over the hold period.Strategically located just 15 miles east of Philadelphia and part of the broader Delaware Valley region, Mount Laurel residents have access to a diverse range of large employers. Notable area employers include The University of Pennsylvania and Penn Medicine, Virtua Health, Campbell Soup Company, Comcast, Lockheed Martin, Cooper University Health Care, Rowan University, and Subaru of America. Colony Hills Capital is a real estate investment firm that specializes in value-add apartment community housing in undervalued Class A- through B assets. Creating a “win-win” management strategy with property-specific capital improvement programs improves the residents' quality of life while maximizing returns to investors.
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