News release

$92.15M sale of luxury multi-housing community in Princeton Junction, NJ closes

JLL Capital Markets closed the sale of the 232-unit, Class A Parc at Princeton Junction

August 30, 2021

MORRISTOWN, NJ, August 30, 2021 – JLL Capital Markets announced today that it has closed the $92.15 million sale of Parc at Princeton Junction, a 232-unit, Class A, transit-oriented multi-housing community with ground-floor retail space in Princeton, New Jersey.

JLL marketed the property on behalf of the seller, a joint venture between Toll Brothers Apartment Living and The Davis Companies. A private buyer acquired the property.

Built in 2018, Parc at Princeton Junction is comprised of one-, two- and three-bedroom apartment homes ranging from 750 to 1,349 square feet as well as 19,913 square feet of retail space. Apartment homes include luxury finishes as well as oversized windows, in-unit washer and dryer, spacious walk-in closets, available garage parking and a patio or balcony in select units. The community features a resort-style swimming pool, fitness center, bocce ball court, dog spa and wash, two-story clubhouse, outdoor grills and firepit, courtyard and sundeck. The property also offers on-site maintenance and management, a package delivery room, game room and reading room/library.

Located at 3000 Goldfinch Dr., the property features a free shuttle service for residents traveling the short 0.75-mile to the Princeton Junction train station, which offers direct service to New York City’s Penn Station in less than an hour with stops in major employment centers such as New Brunswick, Metropark, Newark Airport and Newark Penn Station. The Princeton/Route 1 corridor, known locally as “Einstein’s Alley,” also features a high concentration of large corporations, positioning the community to attract both transit-oriented tenants and those working in the immediate area. Additionally, Parc at Princeton Junction is situated near three major higher education institutions, including Princeton University, Rider University and The College of New Jersey.

The JLL Capital Markets investment sales team that represented the seller was led by Senior Managing Director Jose Cruz, Managing Director Michael Oliver, Senior Managing Director Kevin O’Hearn and Managing Director Steve Simonelli.

”The Princeton multi-housing submarket has shown incredible fundamentals over the last 12 months with strong occupancy and outsized rent growth.,” said Oliver. “Coupled with the strong capital markets environment, this has resulted in incredible demand in the area from the investment community.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Toll Brothers Apartment Living

Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (NYSE: TOL). Toll Brothers Apartment Living is bringing the same quality, value, and service familiar to luxury home buyers throughout the country to upscale rental communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix and Washington, DC. Toll Brothers Apartment Living was ranked 11th largest apartment developer in the U.S. in 2020 by the National Multi-Family Housing Council. The firm has developed more than 7,900 units, has more 5,300 units under management and controls a national pipeline of more than 14,800 units. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of the nation’s leading builder of luxury homes. For more information visit

About The Davis Companies

The Davis Companies is a vertically integrated real estate investment, development and management firm headquartered in Boston that has invested more than $8 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 11.8 million square feet of office, healthcare and life science, industrial, retail and hospitality properties and over 4,000 residential units across the Eastern United States. For further information, visit