ARLINGTON, MA-Brookfield Realty Trust is selling Rockaway Lane Apartments, a 40-unit townhouse apartment community located just off of Route 2A across the street from the Veteran Memorial Sports Center and Minuteman Bikeway. Arlington Franklin LLC bought the complex for $8.9 million.

The apartment complex was built between 1953 and 1963. The property consists of twenty duplex-style townhouse buildings that contain a mix of two and three bedroom units with an average size of 920 sf.

The new owner says it intends to make significant improvements to both the interiors and exteriors prior to marketing the units for sale as condominiums. The improvements will involve new kitchens, baths, as well as new exterior siding and roofs.

Simon J. Butler, vice president/partner and Biria St. John, vice president of the CB Richard Ellis/Northeast Multi-Housing Team represented Brookfield Realty Trust in the transaction. CBRE also procured the buyer in the deal.

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