200-unit Saratoga County multifamily community trades

MORRISTOWN. N.J., April 21, 2026 –  JLL Capital Markets announced today that it has arranged the sale of The Kensington at Halfmoon, a 200-unit, garden-style multifamily community located in Halfmoon, New York.

JLL worked on behalf of the seller, Richbell Capital. The buyer was MLG Capital.  JLL also advised the buyer on the acquisition financing.

The Kensington at Halfmoon is strategically positioned at 1 Kensington Ct. in Clifton Park, located 12 miles north of Albany and 10 miles south of Saratoga Springs. The property sits adjacent to major highways including Route 9 and the Northway (Interstate 87), providing seamless connectivity to major employers like GlobalFoundries, General Electric and St. Peter's Health Partners throughout the Albany-Schenectady-Troy metropolitan area.

The Capital Region of New York has transformed into "Tech Valley" through significant state and federal investments in advanced manufacturing and semiconductor research. This tech ecosystem has attracted major companies in nanotechnology, clean energy and biotechnology, creating a thriving corridor for both established corporations and emerging startups.

Built in 2014, the two-story community spans 245,640 net rentable square feet and features a diverse mix of floorplans ranging from one- to two-bedroom plus den layouts with a large average unit size of 1,228 square feet. Most units feature private garages with direct access, as well as private patios or balconies. The property maintained 98% average occupancy over the trailing 12 months and experienced 6.5% rent growth during the same period.

Residents enjoy resort-style amenities including a swimming pool, state-of-the-art fitness center, community clubhouse with social gathering rooms and billiards, movie theater, dog park and complimentary coffee bar. The pet-friendly community offers 371 total parking spaces including 200 attached garages.

JLL Capital Market’s Investment Sales and Advisory team Senior Managing Directors Steve Simonelli and Jose Cruz, along with Director Austin Pierce.

"The sale of The Kensington at Halfmoon demonstrates continued investor appetite for well-located multifamily assets with proven value-add potential," Simonelli commented. "The property's strategic position in the Saratoga County market and strong occupancy fundamentals make it an attractive acquisition for MLG Capital."

“Richbell Capital is very pleased with the efforts of JLL. Their diligent process resulted in the right buyer for the Kensington,” added Ben Milde of Richbell Capital.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Richbell Capital is a privately held real estate development, construction and property management company. The firm provides a full range of services including site selection, acquisition, entitlement, financing, construction, leasing, property management and asset management for institutional-quality real estate properties.

MLG Capital is a real estate investment firm that has focused on preserving investor wealth and producing tax-advantaged income and appreciation through private real estate investments for more than 38 years. The company offers fund investment opportunities with a relationship-driven approach to smart real estate investments.