(Read more on the multifamilymarket.)
PLAINVILLE, MA-A large apartment community owned by FairfieldResidential has been sold. The 399-unit complex traded for $41million to an affiliate of Chestnut Hill Realty, a Boston-area firmactive in the multifamily sector and one that has made severalrecent acquisitions in the region.
Fairfield has owned Colonial Village at 71 Messenger St. sincespring 2004 when it paid $35.2 million in a campaign to bolster itsholdings in New England. Set on 23 acres in southeasternMassachusetts, the complex is comprised of 10 three-story buildingsthat feature a mix of studios and one- and two-bedroom unitsranging from 500 sf to 900 sf. Amenities include a business center,fitness facility, swimming pools and tennis courts.
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