A sponsored partnership of Dedham-based Archstone has acquired Station 250, a 285-unit apartment community in Dedham.

Station 250, which is located at the corner of Elm Street and Robinwood Road in Dedham, was acquired for $94.25 million and will be renamed Archstone Legacy Place. The luxury apartment community is across the street from the Legacy Place lifestyle center and adjacent to the Dedham Corporate Center MBTA station with service to downtown Boston.

"Archstone Legacy Place is located in one of the nation’s most prestigious markets — the Boston metropolitan area," Charles E. Mueller Jr., Archstone’s president and chief operating officer, said in a statement. "We believe it is a nice addition to the 11 apartment communities and 2,958 units we own and/or operate in the Boston metropolitan area because of its location near entertainment venues and transportation options with access to major employment centers."

CB Richard Ellis – N.E. Partners LP brokered the transaction for the seller, Fairfield Dedham LP, a subsidiary of Atlanta-based BVT Equity Holdings Inc.