New England apartments change hands

Property renovated twice in last 12 years

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

CB Richard Ellis/Whittier Partners arranged the sale of The Heights at Cape Ann, a 276-unit residential community located in Gloucester, Mass. The value of the transaction was not disclosed. The Heights at Cape Ann was built in 1970 and substantially renovated during 1993 and 2002. The property consists of 12 garden-style apartment buildings. The Heights at Cape Ann contains a mix of one-bedroom, two-bedroom and three-bedroom units with an average unit size of 715 square feet. The community amenities include a leasing center, fitness center, outdoor swimming pool, central laundry rooms, and surface parking. Heights at Cape Ann LLC purchased the property from an undisclosed party. 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. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....