Boston-based CBRE/New England’s debt and equity finance and multi-housing teams have secured Guggenheim Real Estate, which has headquarters in New York and Chicago, as a joint venture partner for the Princeton Westford Apartment Homes.

Westford’s to-be-built, Class A, 200-unit apartment community will cost approximately $38 million. The proposed design includes five four-story garden-style apartment buildings featuring 48 one-bedroom units and 152 two-bedroom units with an average unit size of 1,128 square feet. The parking will total 360 spaces. Construction is expected to begin in September.

The CBRE/NE team of Carlos Febres-Mazzei, Kyle Juszczyszyn, Simon Butler and Biria St. John procured the investor and negotiated the transaction on behalf of the sponsor, Lowell-based Princeton Properties.

Princeton Properties acquired the land on an option basis and has completed the permitting process. The site has obtained a comprehensive permit (Chapter 40B) that requires 20 percent of the units to be reserved as affordable at 50 percent of area median income, making the project eligible for tax-exempt bond financing.