Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATTLEBORO, MA-EQR-Quail Run Vistas is selling Crystal Village for $9 million to Village Residential, LLC, or $98,901 per unit. The private Massachusetts investor is grabbing the 91-unit apartment community for a long-term hold, using a Fannie Mae loan provided by North Marq Bank. The loan was for $6.2 million, while the rest of the deal was completed in cash.

The apartment complex sits on 7.3 acres, boasts 30 two-bedroom townhouse units; the remaining 61 units being one- and two-bedroom garden style apartments. On the premises is a basketball and tennis court, fitness center and an indoor swimming pool. Units on average rent at $1,200.

Robinson tells GlobeSt.com that EQR was going through a process of “pruning their portfolio” and divesting some of its older properties and refocusing on newer product. He also points to the sale as another example of a recent trend in private investors making a purchase where previously a lot of institutional investors had been dominating the market.

The community is 96% occupied, according to a statement from Brendan Reilly of Apartment Realty Advisors. ARA’s Reilly, Terry Scott and Stephen Ordway brokered the deal, representing EQR-Quail Run.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.