Harbor Group International has acquired an apartment complex roughly 30 miles west of downtown Boston for $75.8m. The property, Halstead Westborough, offers 280 units in 13 apartment buildings. Common amenities include a fitness and business center, basketball court, spa and parking for 578 cars. CBRE/New England’s capital markets team facilitated the deal on behalf of the seller, DSF Group, which paid $63.5m in 2015 for the property.
“The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer strong yields on a good forward basis through the completion of their value-add strategy,” said Simon Butler of CBRE/NE.
