Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Steward’s Crossing, a 240-unit multi-housing community in Lawrenceville, Mercer County, New Jersey.

The HFF team marketed the property exclusively on behalf of the seller, Merion Realty Partners and a joint venture partner.  Berkshire Group purchased the property.

Steward’s Crossing is located at 1000 Stewards Crossing Way in the affluent Princeton submarket of Lawrenceville, less than one mile from Route 1, Interstate 95 and Interstate 295.  The property’s proximity to both Princeton and the state capital of Trenton provides access to numerous employment and commercial drivers as well as Princeton University.  Totaling 240 homes spread throughout 12 buildings and 24 acres, the property has a wooded, park-like atmosphere and best-in-class amenities, including a spacious clubhouse, 24-hour fitness center, tennis court, swimming pool with sundeck, outdoor lounge with Wi-Fi, grilling area, dog park, walking paths and covered parking.  Steward’s Crossing has a diverse mix of one-, two- and three-bedroom floor plans, which feature renovated kitchens and bathrooms, in-unit washers and dryers, and walk-in closets, with some also equipped with fireplaces, vaulted ceilings, and patios or balconies.

The HFF investment advisory team representing the seller included Michael Oliver, Jose Cruz, Kevin O’Hearn and Steven Simonelli, all working closely with HFF’s Philadelphia multi-housing team, including Mark Thomson, Carl Fiebig and Fran Coyne.

“The greater Princeton area has incredible fundamentals and is one of the New Jersey’s strongest multi-housing submarkets,” Oliver said.  “We have seen an increased appetite from institutional capital within the region. Berkshire will have great success continuing the efforts of the sellers at the property.”

HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.