The 5 Hundred Falls apartment complex in Quincy, MA. has been sold to an affiliate of Mill Creek Residential. Mill Creek Residential acquired the asset with an institutional partner and will rebrand the property as the Alister Quincy. The 171-unit garden style apartment community is located within The Falls mixed-use development in Quincy, which is anchored by a Roche Brothers grocery store, Starbucks and a Wal-Mart. The 171 unit community was built in 1997 and was extensively renovated in 2012. Community amenities include a freestanding clubhouse with a fitness center, swimming pool and 42 detached garages. CBRE/New England’s Capital Markets represented the seller, Fairfield Faxon Park. Terms of the sale were not disclosed.
“We are pleased to have facilitated the sale of 5 Hundred Falls on behalf of our client,” said CBRE/NE’s Simon Butler. “The property offers MBTA Red Line access via Quincy Center to the Boston and Cambridge employment markets and proximity to the South Shore employment market, but also the ability to add value through select upgrades to both the apartment homes and amenities.”
