Hamilton Adds to Apartment Portfolio with $60M Woburn Deal
The Hamilton Company recently added to its Boston-area multifamily portfolio with the acquisition of Country Club Garden Apartments in Woburn, MA from Ninety Three Realty. The 181-unit rental property, and a fully-approved development site across from the existing complex, sold for $59,550,000.
CBRE Capital Markets’ Simon Butler and Biria St. John represented Ninety Three Realty, and procured the buyer. The Boston-based Hamilton Company plans to make approximately $500,000 in improvements in the first years of ownership, and will rename the community Mill Street Gardens.
“We are pleased to have executed the sale of Country Club Garden Apartments on behalf of the owner, who had owned the community since they built the asset back in the mid-1960s,” said Butler. Ninety Three had also spent about $3 million on property upgrades in recent years.
“The asset offers the Hamilton Company the ability to generate strong long-term returns,” said St. John.