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Tewksbury Apartment Complex Sells For $46.7M

ShawsheenPlace

An affiliate of Waltham-based real estate investor DSF Group has paid $46.7 million for a 245-unit apartment complex in Tewksbury.

Shawsheen Place at Tewksbury includes a five-story apartment building constructed in 1990 and six three-story apartment structures built in 2000. A joint venture between Guggenheim Real Estate and The Dolben Co. sold the apartment community, which includes a clubhouse, 10 stand-alone carports and a maintenance building. The complex houses 36 one-bedroom apartments, 203 two-bedroom apartments and six three-bedroom apartments.

CBRE/New England’s capital markets team of executive vice presidents Simon Butler and Biria St. John represented the seller and procured the buyer.

“Shawsheen Place at Tewksbury represents an outstanding opportunity for the DSF Group to execute their value-add strategy and marked a successful investment for our client,” Butler said in a statement.

Commercial & Industrial