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Stoughton Apartment Complex Sold for $71.65M

Aug 10, 2020 | Reprints | Unlock Link

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Photo courtesy CBRE

A four-building apartment complex located near Route 24 in Stoughton has been acquired by a multifamily investor for $71.65 million.

The buyer of Bell Stoughton is an institutional investor new to the Boston market, according to CBRE, which brokered the transaction. Norfolk Registry of Deeds records list the grantee as an LLC affiliated with Boston-based Eaton Vance Real Estate Group.

The cash transaction works out to a price of nearly $299,000 per unit.

Completed in 2012 at 400 Technology Drive, Bell Stoughton contains 240 apartments in four elevatored four-story buildings, along with a clubhouse including heated pool, business center, fitness center and theater room. Units average 958 square feet.

CBRE’s Simon Butler, Biria St. John and John McLaughlin represented the seller and original developer, Bell Partners, and procured the buyer.

Bell Partners bought the property in 2014 for $54.1 million.

B&T Daily