(To read more on the multifamily market, click here.)
MARLBOROUGH, MA-A New York investment firm has taken ownershipof 164-unit class A apartment community in Marlborough in a dealthat gives the buyer a stabilized asset and its first Bay Stateholding. The selling price was $34.2 million.
Sentinel Real Estate Corp., which owns apartments, offices,shopping centers and industrial properties throughout the US,picked up the Applebriar Apartments at One Applebriar Lane for anundisclosed price from Metropolitan Life, a real estateprofessional familiar with the sale tells GlobeSt.com. The sourcesays Sentinel paid "several million dollars" for the property butwas prevented from releasing the actual transaction price becauseof a confidentiality agreement between the two parties.
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