CBRE has arranged the $59.2-million sale of The Orchards Apartments, a 156-unit direct entry garden style apartment community located at 3 Farmhouse Lane in Marlborough, MA.

Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of Newton, MA-based National Development, and procured the buyer, an affiliate of Nuveen Real Estate.

The 2002-completed The Orchards Apartments is comprised of 17 different buildings with a mix of two and three-story residential buildings along with a free-standing clubhouse with a gym and outdoor pool. There are a mix of one- and two -bedroom apartment homes and loft homes with an average size of 1,121 square feet

The community is in the MetroWest employment market, providing access to numerous different employment centers and easy access to I-90, I495 and I-295, as well as many retail amenities.

The post Nuveen Pays $59M to National Development for 156-Unit Community in Marlborough appeared first on Connect CRE.

Gillian Executive Search is a leader Multifamily Apartment Development, Financing, Design and Construction recruiting.