Beachwold Residential acquires The Forge at Glassworks in Aberdeen, NJ for $57 million
- MAREJ
- Mar 18
- 2 min read
JLL Capital Markets arranges sale of luxury townhome community in Monmouth County
Aberdeen, NJ — JLL Capital Markets has arranged the $57 million sale of The Forge at Glassworks, a 170-unit luxury market-rate community located in Aberdeen, Monmouth County.
JLL represented the seller, Ingerman Group, in arranging the buyer, Beachwold Residential.
The Forge at Glassworks, located at 118 Glassworks Blvd., offers residents access to major regional employment hubs and amenities. Positioned just one mile from Exit 120 of the Garden State Pkwy. and within close proximity to the NJ Transit’s Aberdeen-Matawan Station.
Aberdeen Twp. has a population of 20,000, with an average household income of $142,987. Notably, 74% of residents are white-collar professionals. Monmouth County, home to over 646,000, is recognized for its scenic coastline, strong commercial presence and highly educated population, with 51% of residents holding a bachelor’s degree or higher.
Built in 2017, The Forge at Glassworks is a garden-style, market-rate multi-housing community featuring one- and two-bedroom apartments as well as three-bedroom townhome units. The average unit size is 1,077 s/f. Currently, it boasts an impressive occupancy rate of 98.2%. Community amenities include a resident lobby and clubroom, a pool, a fitness center with yoga studios and a sauna, a game room and multiple outdoor spaces, such as a terrace with a fire pit, park and walking trails.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by senior managing directors Jose Cruz, Michael Oliver and Steve Simonelli and directors Elizabeth DeVesty and Austin Pierce.
“This strategic acquisition underscores the sustained investor enthusiasm in well-positioned multifamily assets within the New Jersey area,” said Cruz. “The Forge at Glassworks’ advantageous location, strong market fundamentals and premium offerings position it as a sought-after asset in today’s competitive market.”
