CBRE announced the completion of the $74 million sale of Talia Apartments, a 225-unit luxury apartment community located in Marlborough, Massachusetts within the dynamic MetroWest employment market. This residential community was acquired by a fund advised by The DSF Group from Fairfield and its institutional partner.
The CBRE Capital Markets team of Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler led the transaction team in marketing the property and exclusively represented the seller in the negotiations.
“Talia Apartments is one of the top apartment communities located in the heart of the MetroWest, one of the most dynamic markets in suburban Boston,” said Mr. Butler. “The sale represents the successful execution of Fairfield’s business plan having acquired the site and developed the community. The acquisition provides the buyer an opportunity to acquire a well-located community with proximity to walkable retail, employment, and easy highway access, allowing for long-term rent growth.”
“Talia Apartments offers The DSF Group the ability to continue to acquire well located, underutilized properties that endeavor to provide strong long-term returns though the implementation of our signature Halstead branding and amenity program,” stated Josh Solomon, President of The DSF Group.
Talia Apartments is situated just off Route 20 near I-495, I-290, and I-90 (Mass Pike), offering convenient access to regional employment and amenities. The Metro West offers 700k jobs at employers such as Raytheon, TJX, Boston Scientific, Cytiva, Quest Diagnostics, Hologic, Dell/EMC, Athena Diagnostics, and UMass Memorial Medical Center. BJ’s Wholesale Club recently moved into their new corporate headquarters in Marlborough and is now home to 1,000 employees.
Marlborough has also emerged as a top location for biomanufacturing. Moderna purchased a 140,000 sq. ft. building and will commit $322 million to acquire, retrofit, and expand the facility, which will be used for mRNA manufacturing and will be home to 250 employees. Resilience will also occupy a 120,000 sq. ft. biomanufacturing facility at 92 Crowley Drive when completed in late 2023. Lastly, Lincoln Property Company and Arco National are under construction on a 120,000 sq. ft. spec biomanufacturing development at 1000 Nickerson Road in Marlborough.
