Equity Residential has sold Rolling Green, a 304-unit apartment complex in Milford, for $47.6 million to PhilMor Real Estate Investments of Newton.
The complex built in 1970 contains 28 three-story residential townhomes and garden-style apartments on a 4.2-acre site. Common area amenities include a playground, outdoor pool and grilling area.
CBRE/NE’s John Kelly and Matt Marshall arranged the financing through Fannie Mae’s Green Rewards program which provides energy audits and loans for water and energy efficiency improvements.
Founded by Phillip Bakalchuk and Morgan Hanlon, PhilMor REI specializes in value-add acquisitions of apartment communities and self-storage units.