Image courtesy of CBRE

Bridgewater-based Claremont Companies sold a 176-unit apartment complex in Hudson to an institutional investor for $67 million.

Zurich Alternative Asset Management (ZAAM) of New York acquired the Matrix. Completed in 2017 on a 15-acre parcel, the three-building complex contains a mix of one- and two-bedroom apartments with average sizes of 1,006 square feet.

The purchase price works out to $380,682 per unit. The complex currently lists one-bedroom units starting at $2,350.

The ZAAM fund invests on behalf of third-party investors.

“The combination of asset quality, local demand drivers, and supply constraints made this a very attractive investment for us,” ZAAM Executive Director of Acquisitions Chris Edgar said in a statement.

CBRE represented the sellers. The property previously traded for $55 million in 2022.

Bridgewater Developer Sells Hudson Apartments for $67M

by Steve Adams time to read: <1 min
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