Colonial Village sells in Massachusetts

399-unit apartment community sold to an affiliate of Fairfield Residential

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CB Richard Ellis/Whittier Partners arranged the sale of the 399-unit Colonial Village at Plainville apartment community in Plainville, Mass., to an affiliate of Fairfield Residential.   The property sold for approximately $35.3 million.   Colonial Village at Plainville is a 399-unit apartment community built in the 1970s on 23 acres, which is comprised of 10 three-story apartment buildings and contains a mix of studios and one- and two-bedroom units.   CB Richard Ellis/Northeast Multi-Housing Team represented the seller, DSF Plainville LLC, in the sale. CB Richard Ellis procured the buyer, an affiliate of Fairfield Residential, in this transaction. The buyer intends to implement a major renovation program for the asset.   CB Richard Ellis/Whittier Partners is a Boston-based joint venture of CB Richard Ellis and Whittier Partners Group, with offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. *** Send a Letter to the Editor for publicat...