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SAUGUS, MASS. — CBRE/New England has arranged the sale of the Hilltop Steak House site on Route 1 in Saugus. High Country Investors sold the property to AvalonBay Communities for $17.2 million. The buyer plans to develop the site into a 280-unit luxury rental apartment community with 25,000 square feet of retail space. Community amenities of the mixed-use property will include a landscaped courtyard, pool, fireplaces, grills, a dog park and a clubhouse with a fitness facility. Simon Butler, Biria St. John and Rob Robledo of CBRE/NE represented the seller and procured the buyer in the transaction.