CBRE announced that it has arranged the $35.25 million sale of Residences at Highland Glen, a 102-unit age restricted, garden-style apartment community located at 4100 Highland Glen Road in Westwood, Massachusetts.
CBRE Capital Markets’ multihousing experts Simon Butler, Biria St. John and John McLaughlin, in partnership with Aron Will and John Sweeny of CBRE’s Senior Housing team, exclusively represented the seller, an affiliate of National Development from Newton, Mass. The team also procured the buyer, The Claremont Companies of Bridgewater, Mass.
Completed in 2006, Residences at Highland Glen is comprised of two, four-story residential buildings, which offers a large clubroom and fitness center. There are a mix of one- and two -bedroom apartment homes, with 60 percent recently renovated. The community is located in the highly desirable town of Westwood and provides easy access to I-93/95, as well as numerous retail amenities.
“We are pleased to have represented National Development in the sale of Residences at Highland Glen. This marked the successful conclusion of their investment plan having acquired the asset in 2016,” stated Butler.
National Development Managing Partner Andrew Gallinaro stated, “We are pleased to complete a successful purchase and disposition plan of Residences at Highland Glen and wish The Claremont Companies continued success with the property.”
