An affiliate of John M. Corcoran & Company of Braintree, MA, and an institutional joint venture partner, has closed on the purchase of the Berkshires at Windsor Gardens apartment community in Norwood, MA. Built in the 1960’s, the 914 unit property encompasses 31 three-story, garden-style buildings and 36 two-story townhouse buildings, as well as a freestanding clubhouse, day care and leasing center. Located at 624 Walpole St. in Norwood, MA., it has its own MBTA Commuter Rail Station (Windsor Gardens). CBRE/New England’s Capital Markets represented the seller, the Berkshire Group, and procured the buyer. Terms of the sale were not disclosed.
“We are pleased to have facilitated the sale of Berkshires at Windsor Gardens on behalf of our client who had owned the community since 2007,” said CBRE/NE’s Simon Butler. “The sale marked the successful conclusion to an investment that produced strong results for the seller, while at the same time offering the buyer upside on a go-forward basis and the potential for a value-add execution. This is a unique asset and the true definition of transit-oriented development with its own on-site commuter rail station.”
