Beacon Communities has picked up a affordable apartment community located in West Roxbury, Massachusetts, for $29 million. The 143 unit asset, Rockingham Glen, was built in 1974 and is comprised of two five-story, elevator buildings. The community is located just off Washington Street, in Boston’s West Roxbury neighborhood. The sale was completed with a loan provided by Mass Housing. CBRE/New England’s Capital Markets team brokered the sale.
“We are pleased to have facilitated the sale of Rockingham Glen on behalf of our client who had owned the community since 2000 as part of a larger portfolio acquisition, said CBRE/NE’s Simon Butler. “The sale marked the successful conclusion to an investment that yielded strong results while at the same time preserving affordability, thus filling an important need in the West Roxbury community.”
