News: Front Section
Posted: July 22, 2022
CBRE arranges $35.25 million sale of Residences at Highland Glen
Westwood, MA CBRE has arranged the $35.25 million sale of Residences at Highland Glen, a 102-unit age restricted, garden-style apartment community located at 4100 Highland Glen Rd. CBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. John and John McLaughlin, in partnership with Aron Will and John Sweeny of CBRE’s Senior Housing team, exclusively represented the seller, an affiliate of National Development from Newton, Mass. The team also procured the buyer, The Claremont Companies.
Completed in 2006, Residences at Highland Glen is comprised of two, four-story residential buildings, which offer a large clubroom and fitness center. There are a mix of one- and two-bedroom apartment homes, with 60% recently renovated. The community provides access to I-93/95, as well as numerous retail amenities.
“We are pleased to have represented National Development in the sale of Residences at Highland Glen. This marked the successful conclusion of their investment plan having acquired the asset in 2016,” said Butler.
National Development managing partner Andrew Gallinaro said, “We are pleased to complete a successful purchase and disposition plan of Residences at Highland Glen and wish The Claremont Companies continued success with the property.”
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