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WALTHAM, MA-Equity Residential has picked up the 348-unit Longview Place apartments here in a multimillion-dollar deal with Weston-based Boulder Capital. The deal brings Equity’s residential assets in the Bay State to more than 50 properties.

“It was brand new construction in a great market and a great product,” Marci Griffith Loeber, with Cushman & Wakefield’s markets group in Boston, tells GlobeSt.com of the reasoning behind Equity’s purchase. Loeber says the six-story, red brick property, located at 70 Hope Ave., was on the market about 30 days when Equity, the complex’s manager, put in an offer beating out several other bidders. The sales price for three building property was not disclosed but public records show the original owner, Deaconess Waltham Hospital, sold the facility to Hope Ave. LLC, an affiliate of Boulder Capital, for $8.5 million in 2002.

Situated on six acres along the banks of the Charles River, the property, designed by Cambridge architects ADD Inc., features a driveway entrance comprised of New England fieldstone leading to the red brick veneer three-building complex. Interiors include bay or floor to ceiling windows, gourmet kitchens and private balconies. The property, comprised of one-, two- and three- bedroom units that rent for between $1,550 and $2,950 per month, also features concierge services, a media room, a fitness center, garage or covered parking and billiard and game rooms.

In addition to Loeber, Robert E. Griffin, Jr. and Brian R. Doherty, also with Cushman & Wakefield, represented the seller and procured the buyer.

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