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Audubon Capital Buys Worcester Apartment Complex For $65.75M

Jun 29, 2015 | Reprints | Unlock Link | Print

TGM Plantation Ridge - Worcester, MA

Boston-based Audubon Capital Partners has acquired an apartment complex in Worcester for $65.75 million from TGM Assoc. of New York.

Built in 2004, the 330-unit Plantation Ridge contains 100 percent market-rate units in three five-story buildings with an average size of 959 square feet. Community amenities include a community center, business center, pool and fitness center.

The sales price works out to just under $200,000 per unit. TGM Assoc. paid $60.5 million for the property in March 2008, according to Worcester County Registry of Deeds records.

CBRE New England’s Simon Butler and Biria St. John represented the seller.

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