HFF Brokers $117M Sale of eaves Plainsboro

PLAINSBORO, NJ – Fieldstone Properties has purchased eaves Plainsboro, a 776-unit, garden-style apartment community in Plainsboro, NJ, from AvalonBay Communities, Inc.  for $117 million in a sale brokered by HFF. The price works out to about $150,000 per unit.

eaves Plainsboro consists of 58 two-story buildings with 624 one- and 152 two-bedroom units.  Community amenities include a centrally located clubhouse, fitness center, community room with fireplace, outdoor swimming pool with sundeck, tennis courts and jogging trail.  The 46.4-acre property at 60 Fox Run is walking distance to downtown Plainsboro.  The property is within one mile of Route 1, the main thoroughfare in the area, and is a short walk to the NJ Transit bus stop, which provides access to the Princeton Junction Transit Station.  The community is also within two miles from the newly-opened University Medical Center of Princeton.