CBRE announced that it has arranged the sale of Regency Place, a 120-unit multifamily community located at 7000 Horseshoe Lane in Wilmington, MA.
CBRE Capital Markets’ multihousing experts Simon Butler, Biria St. John and John McLaughlin exclusively represented the seller, an institutional investor advised by CBRE Global Investors, and procured the buyer, an affiliate of Harbor Group International (HGI).
The community is comprised of 120 apartments spread over 11.8-acres consisting of five three-story walk-up buildings and a free-standing clubhouse. Regency Place offers five different unit styles including one and two bedrooms and two-bedroom flats with an average unit size of 1,012 sq. ft. The community features amenities such as an outdoor pool, expansive fitness center, and community room.
Regency Place is strategically located just off exit 38 on I-93 and two exits north of the I-95 exchange offering easy access to the heart of the Route 128/I-95 suburban submarket, which is home to over 500,000 jobs. The apartment complex offers excellent connectivity to highway transit and is 12 miles north of Downtown Boston and Logan Airport. Additionally, the MBTA commuter rail train and Logan Express shuttle service at Woburn Anderson Station are both 2.5 miles away.
Residents at Regency Place are minutes from numerous lifestyle retail amenities including Lucci’s Supermarket, Market Basket, Target, Starbucks, Dunkin’, Petco, and over 20 different dining options such as Red Heat Tavern, Tremezzo, On the Border, Bertucci’s, 99 Restaurant, Panera Bread and more, all within three miles of the community. Additionally, the 1.3 million sq. ft. Burlington Mall and the 650,000 sq. ft. Market Street at Lynnfield are each 10 minutes away.
“We are pleased to have represented CBRE Global Investors in the sale of Regency Place,” stated Butler. “Regency Place marks a successful execution of CBRE Global Investors’ strategy, having acquired it in 2012. Additionally, the community provides the buyer, HGI, a stable investment opportunity given its proven track-record and upside given the quality of the asset and potential value-add opportunities, coupled with the lack of new supply in the competitive market.”
