Chestnut Green Apartments

Boston Realty Advisors is pleased to present an exceptional opportunity to acquire Chestnut Green Apartments, a well-positioned 55-unit apartment community located in Foxborough, Massachusetts. Completed in 2008 Chestnut Green apartments was developed as part of a larger mixed-use project including 100,000 SF of Class A office space and 40,000 SF open air retail shops. The immediate neighborhood boasts a mix of single-family homes, townhomes, condominiums, neighborhood retail and commercial as well as 40+ acres of public recreation space for residents to enjoy. Located at the junction of Chestnut and Main Streets in Foxborough the architecturally significant building designed by architect Charles Brigham in 1889 includes a mix of one and two bedroom homes and two bedroom plus den units ranging in size from 727 SF to 2,305 SF and 110 surface parking spaces. Units feature high ceilings, abundant sunlight, stainless steel appliances, vinyl plank flooring, full tile baths and in unit W&D. Building amenities include a fitness center, internet library, dog play area, billiards room and barbecue area. Conveniently located between Boston Providence and Worcester with easy access to I-495, I-95 and Route 1 Chestnut Green Apartments is a prime commuter location. Furthermore, the urban asset is 50 minutes from Downtown Boston via the MBTA Commuter Rail located less than 10 minutes away at either the Mansfield or Sharon stations. The attractive commuter location and high concentration of quality employment in the immediate area coupled with the presence of destination living amenities and commuters’ conveniences makes Chestnut Green Apartments a highly desirable apartment community. Chestnut Green Apartments is currently 100% leased with extremely low historical turnover due to the strength of the submarket and below market in-place rents. The property could benefit from common area improvements and significant rent increases on future renewals and new leases allowing future ownership to capitalize on the rising rents in the area. Additionally, the property offers assumable in-place debt with attractive rate & terms. Boston Realty Advisors is proud to present this opportunity on an unpriced basis We will be conducting tours of the property in the upcoming weeks with a “call-for-offers” to follow.