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Boston & New England  + Metro Boston  + Apartments  | 

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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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