CBRE Facilitates $175M Sale of Hill Estates in Belmont, MA
CBRE has arranged the $175 million sale of Hill Estates, a 396-unit, fully market-rate apartment community located in Belmont, Massachusetts — a suburb of Boston. The transaction was led by a CBRE team including Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler. CBRE exclusively represented the seller, the DiGiovanni family, and also sourced the buyer, The Hamilton Company.
Hill Estates is one of the largest market-rate communities in the Greater Boston area. Situated on 14.7 acres in a residential neighborhood, the property is within walking distance of the Alewife Red Line MBTA station. Originally developed in the 1960s by the DiGiovanni Brothers, this marks the first time the asset has been brought to market. The family has owned and managed the community since its construction, maintaining stewardship of the property for more than five decades.
“We are pleased to have represented the DiGiovanni family in the sale of Hill Estates,” said Biria St. John. “For over 50 years, the family had been great stewards of this legacy asset in one of the most desirable towns in the Boston Metro. We are equally pleased to have procured the buyer, The Hamilton Company, who we also expect to be great stewards of this asset for generations to come.”
