LINDENWOLD, NJ — The Kislak Company, Inc. announced the $27.38 million sale of Stonington Court Apartments, a 456-unit apartment complex located at 1800 Laurel Rd., Lindenwold. Senior vice presidents Matt Weilheimer and Barry Waisbrod arranged the sale on behalf of the seller and purchaser. The seller was Coolidge Stonington Court LLC, an affiliate of a longtime client for whom Kislak successfully arranged transactions in excess of $100 million in the last 12 years. The purchaser was a private investor and longtime client. This is the second transaction between the parties following a 368-unit sale in Westville, NJ. Kislak previously sold Stonington Court in 2006 for $20.8 million.
“That fact that we sold this property twice in the last 12 years exemplifies how our clients rely on our market knowledge and analysis to advise and guide them on timing the real estate cycles properly,” said Weilheimer. “We resold the property for a 32% increase in value.”