CB Richard Ellis - N.E. Partners, LP's (CBRE/NE) capital markets team completed the sale of University Apartments, a 92-unit apartment community for $13 million. CBRE/NE exclusively represented the seller Emerald Realty Trust 1, and procured the buyer, Horn Pond Apartments, LLC, an investor group led by True North Capital Partners.
CBRE/NE's multi-housing experts Simon Butler, executive vice president/partner, and Biria St. John, executive vice president/partner, exclusively represented the seller and procured the buyer.
"We are pleased to have facilitated this transaction on behalf of the seller," said Butler.
University Apartments was originally constructed in 1960 and is comprised of 92 units spread through eight 3-story garden style apartment buildings over 2.6 acres. The community is located across from Horn Pond and sits on the Winchester/Woburn line. The property has access to downtown Boston via I-93, as well as the commuter rail station in Winchester.