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Original Developers Sell Belmont Apartments for $175M
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler arranged the $175-million sale of Hill Estates, a 396-unit, fully market-rate apartment community located in suburban Belmont, MA. CBRE exclusively represented the seller, the DiGiovanni family, and procured the buyer, The Hamilton Company.
One of the largest market-rate communities in Metro Boston, Hill Estates, is spread over 14.7 acres within a residential neighborhood within walking distance of the Alewife Red Line MBTA station. Built by the DiGiovanni Brothers in the 1960s, the property was owned and managed by the family since its inception and hit the market for the first time.
St. John said, “We are pleased to have represented the DiGiovanni family in the sale of Hill Estates. For over 50 years, the family had been great stewards of this legacy asset in one of the most desirable towns in the Boston Metro. We are equally pleased to have procured the buyer, The Hamilton Company, who we also expect to be great stewards of this asset for generations to come.”
- ◦Sale/Acquisition
