Marlborough luxury apartment complex sold for $95M to New York firm
Photo | Timothy Doyle
The Point at Green District in Marlborough
A luxury apartment complex situated near Route 495 in Marlborough has been sold for $95 million.
The sale of the property formerly known as The Burrow at Green District, located at 1000 Green District Blvd., was finalized on Jan. 30, according to Middlesex South Registry of Deeds Records.
The property was purchased by PP Burrow Investors, a corporation managed by New York-based multi-family real estate firm Pantzer Properties.
Pantzer has renamed the property The Point at Green District following the purchase.
The property was sold by Green District Owner LLC, a corporation that shares management with Rockpoint, a Boston-based private equity real estate firm. Rockpoint worked with Post Road Residential, a Connecticut multi-family housing developer, to purchase the site in 2020, according to a Wednesday release from Rockpoint announcing the sale. Construction began in January 2021, and the complex was completed in May 2023.
"When we acquired Green District with Post Road Residential in 2020, we saw an opportunity to meet the need for new, high-quality multi-family rentals in a desirable and growing market that has seen limited new supply," Fred Borges, senior managing director at Rockpoint, said in the release.
The Point at Green District contains 235 units, with sizes ranging from studios to three-bedroom apartments. Amenities at the site include a roof deck, co-working spaces, a fitness center, a swimming pool, and a podcasting studio.
The sale of this complex follows the December sale of a 225-unit luxury apartment complex that is located approximately 1.25 miles north of The Point at Green District.
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