Boston – CBRE/New England’s Capital Markets team announced the sale of Halstead Westborough, a 280-unit apartment community located in Westborough, MA. CBRE/NE multi-housing experts Simon Butler and Biria St. John exclusively represented the seller, an affiliate of The DSF Group, and procured the buyer, an affiliate of Harbor Group International.
“We are pleased to have facilitated the sale of Halstead Westborough on behalf of our client who had owned the community since January 2015 and successfully executed their vision for the property,” said CBRE/NE’s Butler. “The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer strong yields on a good forward basis through the completion of their value-add strategy.”
“We executed our business plan, and as a result this sale represents another successful investment for DSF and for our investors,” stated Josh Solomon, President of The DSF Group.
Halstead Westborough consists of a single-story clubhouse and 13 apartment buildings comprised of one- and two-story direct-entry buildings as well as three- and four-story split garden-style buildings completed in 2002. The unit mix is comprised of 108 one-bedroom apartments, 142 two-bedroom apartments and 30 three-bedroom apartments with an average unit size of 1,060 SF. The community offers superior access to numerous different employment centers along Interstates 90, 290 and 495 as well as the Southborough MBTA Commuter Rail Station, which is located less than a mile from the community.
With over $2.5 billion invested in real estate since 2000, offices in Boston and Washington D.C. and decades of deep-seated experience, The DSF Group strives to create unique, award-winning properties. We acquire well located multi-family properties near transportation hubs and then reposition the properties through the implementation of well thought out renovations, amenities and technology. This integrated approach and commitment to excellence provides luxury living, first class amenities and recreational opportunities for our residents.