CBRE ARRANGES $16.1M LOAN FOR METRO BOSTON MULTIFAMILY BUY

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CHELMSFORD, MASS. — CBRE/New England’s capital markets team has secured $16.1 million in financing for the purchase of The Meadows, a 180-unit, garden-style community located in suburban Boston. The buyer, a joint venture between Taurus Investment Holdings of Boston and Water Street/PhilMor Real Estate Investments LLC of Newton, Mass., purchased the multifamily asset for $20 million. The community, located approximately 1.5 miles from I-495 in Chelmsford, was constructed in 1987 with an average unit size of 668 square feet. The Meadows includes 10 three-story buildings with a unit mix of 18 studio, 42 one-bedroom and 120 two-bedroom units. John Kelly of CBRE worked on behalf of Taurus and Water Street/PhilMor to secure the financing.

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