The CBRE Capital Markets team today announced the sale of Commons at Windsor Gardens located in Norwood, Massachusetts.
The Commons at Windsor Gardens is a 914-unit 100% market-rate apartment community consisting of 682 flats and 232 townhomes spread through 77 two- and three-story buildings and situated on over 57.7 acres of grounds. The community is unique, as it has the Windsor Gardens commuter rail station located on-site offering easy access to downtown Boston, less than 35 minutes away. Furthermore, the community is strategically located with easy access to both Route 128 and Interstate 95, and residents have direct access to major employment centers throughout both downtown, via the train, and suburban Boston.
CBRE multi-housing experts Simon Butler and Biria St. John exclusively represented the seller, Windsor Gardens Propco LLC, a partnership that includes Braintree-based John M. Corcoran & Company and a private equity institutional partner. CBRE also procured the buyer.
“We are pleased to have sold the Commons at Windsor Gardens on behalf of John M. Corcoran & Company and their partner, who made significant improvements to the asset since acquiring it in 2017,” said CBRE’s Butler. “The Commons at Windsor Gardens offers the buyer the ability to continue with and expand the scope of value-add upgrades implemented by the seller. The community offers outstanding access to the numerous different employment centers in the Greater Boston market. The community’s superior location, unique on-site commuter rail station and physical attributes, should translate to continued healthy revenue growth for years to come.”
Originally built between 1963 and 1968, the 100% market-rate community is comprised of 914 units with a mix of one-bedroom, two-bedroom flats and two- and three-bedroom townhomes with an average size of 832 square feet per unit. Additionally, Commons at Windsor Gardens offers a generous amenity package including an on-site commuter rail station, community room, two outdoor pools, gym, basketball court, tennis count and on-site daycare operator.
About CBRE Group, Inc.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.