The Foxwood Apartments, a 414-unit community in Newark, Delaware. has been acquired by Aulder Capital for $44.5 million free and clear of debt. Located at 5 Fox Hall on a 27-acre site, the property encompasses 31 buildings built in the 1970’s. Ninety-six percent leased at the time of the sale, the asset is 15 minutes from the campus of the University of Delaware. Holliday Fenoglio Fowler sourced a $34.3 million fixed-rate, seven-year securitized loan through Freddie Mac’s CME Program. HFF also marketed the property on behalf of the seller, Fairfield English Village, an affiliate of Fairfield Residential. “The market was extremely receptive to Foxwood and the value-add nature of the asset. Newark has seen an influx of growth during the past few years and the University of Delaware continues to be a catalyst for the submarket,” said Mark Thomson, HFF senior managing director.
