(To read more on the multifamily market, click here.)
NASHUA, NH-Princeton Properties has acquired Boulder Park, a482-unit apartment complex for more than $54 million. Thevalue-added deal gives the new owner a class B complex that is morethen 90% leased.
Andrew Chaben, the chief executive officer with the Lowell,MA-based buyer, tells GlobeSt.com that competition for thegarden-style apartment community on Kessler Farm Drive was fiercebecause of the property's location, value added appeal and thelarge number of units up for sale. "Existing, well-placedmultifamily opportunities continue to be a coveted asset class forthose in the business of placing equity," Chaben says. "Theopportunity to add value combined with the size and location allcontributed to the fierce competition."
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