Colonial Village sells in Massachusetts
399-unit apartment community sold to an affiliate of Fairfield Residential
By Inman News, Monday, April 19, 2004.Inman News®
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.
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