PLYMOUTH, Mass. — Boston-based Berkshire Residential Investments has purchased the 260-unit Hanover at the Pinehills apartment complex in Plymouth’s Pinehills development for $122 million, according to the Boston Business Journal. The sale, which closed on Nov. 14, works out to approximately $469,000 per unit, BBJ reported.
The property, which opened last year under Houston-based Hanover Co., has been rebranded as Berkshire at the Pinehills. BBJ noted that the complex, overlooking two holes on the Pinehills Golf Club’s Rees Jones course, now lists rents ranging from $2,722 to $4,937.
Berkshire Residential Investments operates seven other apartment communities in Massachusetts, including VIA Seaport Residences, The Benjamin Seaport Residences and Gatehouse 75 in Boston; HighPoint in Quincy; The Residence at Penniman in Hingham; Ellington Metro West in Westborough; and The Residence at Bedford. BBJ reported that the firm also holds properties in 14 other states.
The acquisition marks the latest apartment development within the 3,200-acre Pinehills community, known for its golf courses and village green. BBJ highlighted that Pinehills has nearly 2,900 homes already built, with 3,065 planned in total. While most homes are for sale, the development also features other apartment communities, including Avalon at the Pinehills, Marq at the Pinehills, and Rowan at the Pinehills.
BBJ noted that the 220-unit Marq complex sold in 2024 for $86.5 million to Alliance Residential Co. of Arizona, purchased from a real estate investment arm of John Hancock. Hanover Co., headquartered in Houston, continues to maintain a significant presence in Massachusetts, with 28 properties statewide, including locations in Cambridge, Everett, Stoneham, Westwood, and Weymouth, BBJ reported.
The sale underscores continued investor interest in high-quality, amenity-rich apartment communities in the Boston-area suburbs, particularly within the Pinehills, which has emerged as a premier residential destination on the South Shore.
