CB Richard Ellis Investors’ multi-housing group has purchased Avalon at Faxon Park, a 171-unit garden apartment community in Quincy.

The property at 500 Falls Blvd. is 100 percent leased, and includes units with eight floorplans ranging from one to three bedrooms, averaging 1,027 square feet. The complex includes a clubhouse, swimming pool and playground.

CB Richard Ellis Investors is planning a property enhancement program that includes upgrades to the fitness room, clubhouse and other common areas, according to a statement.

"The Greater Boston market is a focus market for the firm, and Avalon at Faxon Park is an ideal location for those commuting into Boston as well as surrounding communities," said Steve Zaleski, managing director of the multi-housing group for CB Richard Ellis Investors. "Additionally, a limited supply of existing inventory coupled with limited available land for future development make this an ideal acquisition for the fund."

Stephen Gullo, who has joined CBRE Investors as multi-housing director, pursued the investment opportunity along with Zaleski. Simon Butler of Cushman & Wakefield represented the seller.