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Fairfield Residential Sells Stoughton Complex For $31M

Jul 19, 2016 | Reprints | Unlock Link | Print

Fairfield Residential has sold Coppermill Park, a 154-unit apartment complex at 3101 Stagecoach Road in Stoughton, for $30.95 million.

The buyer was an affiliate of Dallas-based Crow Holdings Capital Real Estate.

Built in 2010 and located at 3101 Stagecoach Road, the complex on the Stoughton-Canton line was developed under the state’s Chapter 40B affordable housing law with 25 percent of the units reserved for households earning 80 percent or less of the area median income. The property contains four elevatored buildings with a mix of one- and two-bedroom apartments averaging 873 square feet on a 8.6-acre parcel.

CBRE/New England’s capital markets team led by Simon Butler and Biria St. John represented the seller and procured the buyer.

CBRE’s capital markets debt and structured finance team of Michael Riccio, Susan Larkin, Anna Pfau and John Kelly secured a $21.8-million floating-rate acquisition loan on behalf of the buyer through Freddie Mac.

B&T Daily