Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler announced the sale of the Marq at The Pinehills, a 220-unit, 100% market-rate apartment community located in The Pinehills in Plymouth, Massachusetts.
The buyer was Alliance Realty Partners, LLC, in a joint venture with an institutional investor.
Completed in 2016, the community is spread over more than seven acres and offers a mix of one bedroom and two-bedroom garden-style apartment homes, with an average apartment size of 1,002 square feet. The community offers expansive amenity space including a large clubroom, outdoor heated pool with sundeck, fitness center, and co-working space. The property is located within The Pinehills, a 3,200-acre master-planned community including three golf courses and the Village Green, a unique retail experience with 25 separate retailers, including numerous restaurants. Marq is walkable to the Village Green and across the street from The Market grocery store.
CBRE’s Simon Butler said, “We are pleased to have represented the seller in the sale of Marq at The Pinehills. The buyer is well-positioned to execute their value-add program and generate strong long-term returns given the quality of the product and The Pinehills location.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.
