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Waltham Apartment Complex Trades for Reported $221M
Gardencrest Apartment Homes, a 696-unit, 100% market rate workforce housing apartment community in Waltham, MA, has sold to an affiliate of San Francisco-based Fowler Property Acquisition. Although CBRE, which represented seller Harbor Group International, did not disclose the sale price, the Boston Business Journal reported it as $221 million for the largest multifamily deal in the Boston area year-to-date.
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented Harbor Group, a Norfolk, VA-based real estate investment firm. They also procured the buyer, which has renamed the community ReNew Waltham.
Built between 1949 and 1972, Gardencrest Apartment Homes contains a mix of apartments and direct-entry townhomes in the Metro West market. The community offers convenient access to downtown Boston and Cambridge as well as Waltham and Watertown. The property is spread over 34 acres and is comprised of 64 residential buildings.
- ◦Sale/Acquisition

