CBRE Brokers $130M Sale of 562-Unit Apartment Community Near Worcester, Massachusetts
WESTBOROUGH, MASS. — CBRE has brokered the $130 million sale of Fountainhead Apartments, a 562-unit community in Westborough, located east of Worcester. The market-rate community is situated on 20 acres near Interstates 90, 290 and 495 and comprises three eight-story buildings. Originally built in phases between 1971 and 1973, Fountainhead offers one-, two- and three-bedroom units averaging 1,157 square feet. Amenities include a pool, fitness center, basketball court and a tennis court. Simon Butler and Biria St. John of CBRE represented the seller, Northland Fountainhead LLC, an affiliate of Massachusetts-based Northland Investment Corp., in the transaction. The buyer was an affiliate of FPA Multifamily LLC.