Exclusive: Living Residential Pays $116M for 300 Luxury Units
The buyer has also secured a $75 million acquisition loan.
Living Residential has paid $115.9 million for Woodmont Forge, a 300-unit luxury community in Pennington, N.J., according to Yardi Matrix information. A $74.7 million loan from TIAA financed the acquisition. The buyer also rebranded the property as One Hundred Forge.
Woodmont Properties sold the asset that it developed with the help of a $64.4 million construction loan from Valley National Bank, the same data provider shows. The community came online in 2024 and reached full occupancy in June 2025, according to Real Estate New Jersey.
The property occupies approximately 23 acres at 100 Forge Circle, close to Interstate 295. Downtown Princeton, N.J., is some 8 miles away.
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One Hundred Forge comprises three and four-story buildings. The unit mix encompasses one- and two-bedroom floorplans ranging from 816 to 1,357 square feet. Apartments feature keyless entries, oversized windows, 9-foot ceilings, wood-style plank flooring, in-unit washers and dryers and bathrooms with walk-in showers and soaking tubs.
Common-area amenities include a swimming pool with a sundeck, fitness center, clubhouse, resident lounge, conference room, event space and theater room. The community is pet-friendly and also includes a playground, a garden, outdoor terraces, walking paths and EV charging stations.
With this acquisition, Living Residential expanded its portfolio to 10 properties spread across Northern and Central New Jersey, Yardi Matrix data shows. The company’s footprint in the state totals more than 2,620 units.
New Jersey’s stable multifamily sector
New Jersey ranked ninth out of 30 markets for year-over-year rent growth, clocking in at 1 percent as of February, according to a recent Yardi Matrix national report. The market’s average rent is forecasted to reach 1.9 percent by the end of the year.
Recent multifamily transaction activity in New Jersey metro includes the $80 million sale of SilverLake Apartments, a 232-unit community in Belleville, N.J. Sym Investments purchased the asset from Klein Enterprises in a deal arranged by JLL.
