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News: Front Section
Posted: February 25, 2022
CBRE arranges sale of 244-unit Paddock Estates in Boxborough, MA
Boxborough, MA CBRE has arranged the sale of Paddock Estates, a 244-unit, class A garden-style apartment community located at 1 Paddock Lane. The sale price was not disclosed.
CBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. John and John McLaughlin exclusively represented the seller, Jefferson at Beaver Brook, LLC, an affiliate of JPI from Irving, TX, and also procured the buyer.
Completed in 2017, Paddock Estates is comprised of 11 two and three-story garden-style apartment buildings, and a modern farmhouse design inspired clubhouse with an on-site leasing office and numerous amenities including a fully equipped fitness center, heated outdoor pool, and other unique outdoor amenities. The buildings consist of one, two, and three-bedroom apartment homes with an average size of 980 s/f.
Paddock Estates is located at the interchange of Rte. 111 and I-495, providing access to different employment centers. The community is near the commuter rail in both Littleton and South Acton, and close to retail offerings in neighboring Littleton and Hudson.
“We are pleased to have represented JPI in the sale of Paddock Estates. This marked the successful conclusion of their investment plan and vision for this asset,” said Butler. “Paddock Estates offers the buyer the ability to acquire a best-in-class asset in a top tier school district, with limited supply and prospects for strong long-term returns.”
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