CBRE announced that it has arranged the $87 million sale of Rolling Green Apartments, a 304-unit garden style apartment community, located at 1 Rolling Green Drive in Milford, Massachusetts.
CBRE Capital Markets’ multihousing experts Simon Butler, Biria St. John and John McLaughlin exclusively represented the seller, PhilMor REI Milford, LLC, an affiliate of Philmor Real Estate Investments from Brighton, MA, and procured the buyer, Rolling Green Drive Owner LLC, an affiliate of The DSF Group from Boston, MA.
Completed in 1970, Rolling Green Apartments is comprised of 29 buildings, consisting of 18 three-story garden buildings, 10 two-story townhouse buildings and an on-site leasing office. There are a mix of one, two, and three-bedroom apartment homes, including 88 direct-entry townhomes (29 percent), with an average size of 1,060 square feet. The property is located in the dynamic MetroWest employment market, offering easy access to I-495 and I-90, as well as numerous retail amenities.
“We are pleased to have represented Philmor Real Estate Investments in the sale of Rolling Green, which marked the successful conclusion of their investment plan,” stated Butler. “According to Phillip Bakalchuk and Morgan Hanlon, owners of PhilMor Real Estate Investments, Rolling Green has been an excellent investment, delivering strong results for investors, as well as quality housing for the residents at the property and the town of Milford.”
“Rolling Green Apartments offers The DSF Group the ability to reposition the property and generate strong long-term returns through the implementation of our signature Halstead branding and amenity program,” stated Josh Solomon, President of The DSF Group.