Stockbridge affiliate Core and Value Advisors LLC has purchased a 108-unit apartment community Wilmington for $29.75 million.
Metro at Wilmington Station, located at 10 Burlington Ave., consists of two three-story apartment buildings and one detached single-story garage structure with 35 enclosed garage spaces. The property was completed in June 2013. The unit mix is comprised of 30 one-bedroom apartments and 78 two-bedroom apartments, with an average unit size of 1,067 square feet.
CBRE/New England’s Capital Markets’ Simon Butler, executive vice president and partner, and Biria St. John, executive vice president and partner, exclusively represented the seller, a joint venture between EA Fish Development and Real Estate Capital Partners, and procured the buyer.
"The sale of Metro at Wilmington Station represents the final chapter in a redevelopment of a former underutilized industrial property into one of the few true transportation-oriented developments in the Boston Metro," St. John said in a statement. "Metro at Wilmington Station is truly a unique property with the MBTA train platform at the edge of the property."
The community was permitted pursuant to Chapter 40B and as a result is required to maintain 30 affordable apartments, governed by both income and rent limits. The affordable apartments are set aside for households earning up to 80 percent of area median income.
The apartments feature contemporary kitchens with granite countertops, Thermofoil cabinets, vinyl plank kitchen flooring and wall-to-wall carpeting throughout living room and bedrooms. Bathrooms feature enhanced vinyl composite flooring, granite vanity top with Thermofoil cabinets and fiberglass shower/tub with surround.
Community amenities include elevator service, community room with full kitchen and a dog park, among others.



