June 28, 2019 Comments Off on Shrewsbury Apartment Community Trades for $77M Views: 398 Boston New England News, Metro Boston, Top Boston

Shrewsbury Apartment Community Trades for $77M

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.

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