Camelot West at Townelake: $47.5M permanent financing secured for luxury multifamily community in New Jersey

MORRISTOWN. N.J., Dec. 17, 2025 –  JLL Capital Markets announced today that it has secured a $47.5 million refinancing for Camelot West at Townelake, a newly delivered 176-unit luxury multifamily community in Sayreville, New Jersey.

JLL worked on behalf of the borrower, Kaplan Companies, in arranging the five-year, fixed-rate loan through a regional bank.

Camelot West at Townelake, located at 5105 Brown Rd. in Sayreville's Middlesex County, offers residents convenient access to public transportation and highway infrastructure with proximity to the Garden State Parkway, Route 9 and Interstate 95. The property provides commuter bus service throughout Sayreville and commuter rail access via the South Amboy Train Station, with direct service available to employment centers including Newark and Manhattan.

Middlesex County continues to attract renters seeking residence outside Manhattan with convenient transportation access at discounted prices compared to New Jersey's Hudson Waterfront Submarket. The area benefits from a well-diversified economy with warehouse/distribution, light manufacturing, retail trade, finance, professional services, educational, health, life sciences and social service sectors.

Camelot West at Townelake features seven residential buildings including five 28-unit four-story elevator-served buildings, one 10-unit three-story elevator-served building and one 26-unit four-story elevator-served building that includes the community’s clubhouse and management/leasing office. The luxury mid-rise community offers 166 market-rate units and 10 COAH units with a unit mix of one-, two- and two three-bedroom units.

The property offers large units with a 1,153-square-foot blended average unit size and luxury finishes including Silestone countertops, stainless steel appliances, gas ranges, island kitchens, mosaic tile backsplashes, in-unit washer/dryers, luxury plank flooring, walk-in closets, nine-foot ceilings and balconies in select units. Community amenities include a fitness center, pool, lounge area with coffee bar, parcel room, barbecue area, playground, bike storage, dog park and grooming area. The property provides ample parking with 342 spaces including 72 individual unit garages with EV charging stations, 72 driveway spaces and 198 surface spaces.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Directors Michael Klein and Jim Cadranell and Associate John Cumming.

“Kaplan Companies has been changing the face of modern luxury apartment living in Middlesex County for decades,” said Klein.  “Camelot West’s proximity to a diverse transportation infrastructure, several regional employment centers and retail establishments makes this a highly desirable location for renters and we saw a significant amount of interest from the lender community as well.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Since 1952, Kaplan Companies have built more than 30,000 homes and apartments throughout New Jersey and been involved in numerous projects across Georgia, Pennsylvania, Florida and Texas, establishing a reputation for top-quality homes and long-term value in the residential market. The company is dedicated to making the American Dream a reality through exceptional service, integrity and professionalism, with the goal of helping people find safe, happy and comfortable places to live.