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Boston Developer Buys Milford Apartments for $87M

Image courtesy of CBRE

Boston-based multifamily investor DST Group has acquired a 29-building apartment complex in Milford for $87 million, nearly double the price of its last sale in 2017.

The Rolling Green apartments contain 304 units in 18 3-story garden-style buildings and 10 2-story townhouse buildings at 1 Rolling Green Drive. The sales price equates to over $286,000 per unit.

CBRE’s Simon Butler, Biria St. John and John McLaughlin represented the seller, an affiliate of PhilMor Real Estate Investments of Brighton.

The property previously traded for $47.6 million in March 2017, when PhilMor acquired it from Equity Residential, according to Worcester County Registry of Deeds records.

The complex was completed in 1907 and features a mix of one- through three-bedroom apartments, including 88 direct-entry townhomes.