The Gardencrest Apartment Homes, a 696-unit workforce housing community located in Waltham, MA, has been acquired by an affiliate of Fowler Property Acquisition based in San Francisco. The sale price was not disclosed by CBRE, the firm representing seller Harbor Group International. However, according to the Boston Business Journal it was reported as $221 million – making it the largest multifamily deal in the Boston area so far this year.
Harbor Group International is a real estate investment company based in Norfolk, VA and they were represented by a team from CBRE led by Simon Butler,Biria St. John ,John McLaughlin and Brian Bowler . The buyer has renamed the community ReNew Waltham.
Built between 1949 and 1972,the Gardencrest Apartment Homes offers both apartments and townhomes with direct entry options within Metro West market.The location provides easy access to downtown Boston,Cambridge,Waltham,and Watertown.The property spans over 34 acres with a total of 64 residential buildings.
