(To read more on the multifamily market, click here.)
HULL, MA-Cornerstone Real Estate Advisors has paid $34.6 millionfor a 162-unit apartment complex. The trade got the Hartford buyera five-year-old, class A waterfront property with 94%occupancy.
Richard Robinson, a principal with Apartment Realty Advisors ofBurlington, which brokered the transaction for seller AvalonBayCommunities, Inc. tells GlobeSt.com that at least five otherbidders were in contention for the One Avalon Dr. property, knownas Avalon Estates. "It's a very unique asset in terms of itslocation near the water."
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