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West Roxbury Affordable Apartments Fetch $29M

Nov 7, 2016 | Reprints | Print

Rockingham Glen, a 143-unit affordable apartment community in West Roxbury, has sold for $29 million.

Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer, Beacon Communities, who will preserve the property’s existing affordability. The sale was financed through MassHousing.

“We are pleased to have facilitated the sale of Rockingham Glen on behalf of our client who had owned the community since 2000 as part of a larger portfolio acquisition,” Butler said in a statement. “The sale marked the successful conclusion to an investment that yielded strong results while at the same time preserving the affordability, thus filling an important need in the West Roxbury community.”

Built in 1974 and comprised of two 5-story building with elevators, the complex is located at 30 Rockingham Ave. It consists of one studio, 94 one-bedroom and 47 two bedroom units, with an average of 786 square feet.

B&T Daily