June 28, 2019
CBRE arranged the sale of Quinn 35, a 250-unit apartment community in Shrewsbury. Bluerock Value Exchange acquired the property for $77 million. The transaction is Bluerock’s first acquisition in the Boston market.
Located at 35 Harrington Ave., the community is adjacent to Lakeway Commons, a 100,000-square-foot lifestyle retail center. Quinn 35 was delivered between the fall of 2017 and spring 2018. The property is comprised of a mix of one-, two- and three-bedroom units, with an average size of 932 square feet. Amenities include a 6,000-square-foot community room, heated outdoor pool, gym and grill stations.
Simon Butler and Biria St. John of CBRE represented the seller, a joint venture between Criterion Development Partners and an international investment advisor. The JV is known as Residences at Lakeway Commons Associates LLP.
For comments, questions or concerns, please contact David Cohen