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Owners Developers & Managers
Posted: February 5, 2021
Lefebvre of Elm Grove Realty sells 40-unit apt. complex for $5.45m
Westfield, MA Matthew Lefebvre of The Lefebvre Team at Elm Grove Realty, based in Manchester, N.H., sold 200 Southwick Rd., a 40-unit apartment complex also known as Oakwood Terrace, for $5.45 million. Lefebvre represented the sellers of the property, 2nd Oakwood Terrace, LLC. The buyer of the property was Concrete Ventures, LLC, represented by Gary Witten of Marcus & Millichap.
Oakwood Terrace is a 34,188 s/f property consisting of 39 two-bedroom townhouse-style apartments, and one three-bedroom townhouse-style apartment.
Over the course of three years, the sellers repositioned the property with substantial capital improvements including remodeling and upgrading all 40 apartments, installing new siding, installing new heating systems, adding additional amenities to the property, and more.
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