Woodmont Sells Newly Built Pennington Apartments for $116M
A leading owner and operator with a national multifamily portfolio has acquired One Hundred Forge (formerly Woodmont Forge) IN Pennington, NJ. The $115.75-million sale of the 300-unit luxury apartment community represents a significant benchmark for the Hopewell Valley submarket, according to SAGE Investment Real Estate Advisors.
Leasing of the Class A, newly constructed property was launched in 2024 and reached full occupancy by mid-2025. SAGE partners Steve Tragash and Greg Pine represented Woodmont Properties, the original developer and seller, and procured the undisclosed buyer.
Located on 23 acres at 100 Forge Cir., the community offers convenient access to Interstate 295 and is situated eight miles from downtown Princeton. The property features a mix of one- and two-bedroom floorplans across three- and four-story buildings.
Last year, SAGE also arranged the $42.95-million sale of Woodmont Liberty Apartments in Independence Township, NJ on behalf of Woodmont Properties. Tragash and Pine also procured the unnamed buyer, a longtime client.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout