NAI Hunneman has completed the sale of Captain Parker Arms, a 94-unit, 11-building apartment complex for $20.8 million.
Executive vice president and principal David Ross and sales associate Gina Barroso of NAI Hunneman's investment sales team represented the seller, Captain Parker Arms Apartments LLC, and procured the buyer, Avalon Bay VAF Acquisition II LLC, in the transaction.
"Captain Parker Arms represented a unique opportunity to acquire a stabilized asset in an excellent location on Worthen Rd., with top residential amenities and significant upside potential," said Ross. "The property generated tremendous interest from the investment community which resulted in a competitive bidding process."
Located off of Rte. 2A and in close proximity to I-95/Rte. 128, The Captain Parker Arms has eleven buildings with one, two and three-bedroom units, on a manicured 8.98 acre parcel, along with an additional 1.75 acre parcel. Captain Parker Arms offers a more traditional suburban living experience while providing community amenities including professional management and maintenance, landscaped grounds, walking distance to town center and access to major thoroughfares and public transportation.
NAI Hunneman's investment services group, which includes David Ross, Robert Tito, Carl Christie, Scott Dragos, Doug Jacoby, Gina Barroso, Dan McGee, Mitch Levey and Robert Tito Jr., specializes in the representation of both owners and purchasers of investment properties in Greater Boston and throughout New England.
About NAI Hunneman:
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 5,000 professionals and 350 offices in 55 countries throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. NAI offices around the world complete over $45 billion in transactions annually, and manage over 200 million s/f of commercial space.