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Boston & New England  + Metro Boston  + Apartments  | 

Institutional Buyer Snaps Up Luxury Westborough Apartments

A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented Utah-based Cottonwood Residential in the sale of Parc Westborough, a 249-unit luxury apartment community located in Westborough, MA. The CBRE team also procured the buyer, an unnamed institutional investor. Deal terms were not disclosed; Cottonwood paid $65.5 million for the property in 2018.
 
Parc Westborough was built in 2016 and consists of four four-story elevatored buildings and a freestanding clubhouse. The property includes a mix of one-bedroom, two-bedroom, and three-bedroom apartments, with an average unit size of 1,008 square feet
 
Butler said, “The seller was able to successfully execute their business plan, having acquired the community in 2018. The community is strategically located just off Route 9, providing superior access to the numerous employers throughout the Metro West. The community should outperform given the lack of supply and the top-ranked Westborough schools.”

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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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