QUINCY, MASS. — CB Richard Ellis (CBRE) Investors has acquired Avalon at Faxon Park, a 171-unit garden apartment community located in Quincy. The property, which was built in 1997, is situated at 500 Falls Blvd. It features one-, two- and three-bedroom units averaging 1,027 square feet. Amenties include a clubhouse, a swimming pool and a playground. The property was fully occupied at the time of closing. CBRE Investors plans to complete capital improvements to the community, including upgrades to the fitness center, clubhouse and other commons areas. CBRE Investors made the purchase on behalf of its CBRE Strategic Partners U.S. Value 5 Fund, with Stephen Gullo and Steve Zaleski providing in-house representation. Simon Butler of Cushman & Wakefield represented the undisclosed seller. The acquisition price was also not released.

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