Taurus Investment Holdings, Water Street/PhilMor Real Estate Investments Buy Chelmsford Multifamily Property

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Banker & Tradesman - A joint venture between Taurus Investment Holdings of Boston and Water Street/PhilMor Real Estate Investments LLC of Newton has bought The Meadows, a multifamily asset in Chelmsford, for $20 million. CBRE/New England secured $16.1 million in acquisition financing for the purchase of the a 180-unit garden-style community located in Chelmsford.

 

The Meadows was constructed in 1987 with an average unit size of 668 square feet. It consists of 10 three-story buildings with a unit mix of 18 studio-, 42 one-bedroom, one-bathroom and 120 two-bedroom, one-bathroom units. There are 375 parking spaces at the property. "The acquisition of The Meadows is a follow-on transaction to the 2013 purchase of Cabot Crossing in Lowell," Taurus Investment Holdings' CEO Peter Merrigan, said in a statement. "Both properties represent quality Class B assets located within one of I-495's strongest job markets. Taurus and Water Street/PhilMor will look to build off the previous owner's success with the assets by making a strategic capital investment into each of the properties."

A joint venture between Taurus Investment Holdings of Boston and Water Street/PhilMor Real Estate Investments LLC of Newton has bought The Meadows, a multifamily asset in Chelmsford, for $20 million.

CBRE/New England secured $16.1 million in acquisition financing for the purchase of the a 180-unit garden-style community located in Chelmsford.

The Meadows was constructed in 1987 with an average unit size of 668 square feet. It consists of 10 three-story buildings with a unit mix of 18 studio-, 42 one-bedroom, one-bathroom and 120 two-bedroom, one-bathroom units. There are 375 parking spaces at the property.

"The acquisition of The Meadows is a follow-on transaction to the 2013 purchase of Cabot

Crossing in Lowell," Taurus Investment Holdings' CEO Peter Merrigan, said in a statement. "Both properties represent quality Class B assets located within one of I-495's strongest job markets. Taurus and Water Street/PhilMor will look to build off the previous owner's success with the assets by making a strategic capital investment into each of the properties."

- See more at: http://www.bankerandtradesman.com/news158993.html#sthash.5wMbAHO3.dpuf

A joint venture between Taurus Investment Holdings of Boston and Water Street/PhilMor Real Estate Investments LLC of Newton has bought The Meadows, a multifamily asset in Chelmsford, for $20 million.

CBRE/New England secured $16.1 million in acquisition financing for the purchase of the a 180-unit garden-style community located in Chelmsford.

The Meadows was constructed in 1987 with an average unit size of 668 square feet. It consists of 10 three-story buildings with a unit mix of 18 studio-, 42 one-bedroom, one-bathroom and 120 two-bedroom, one-bathroom units. There are 375 parking spaces at the property.

"The acquisition of The Meadows is a follow-on transaction to the 2013 purchase of Cabot

Crossing in Lowell," Taurus Investment Holdings' CEO Peter Merrigan, said in a statement. "Both properties represent quality Class B assets located within one of I-495's strongest job markets. Taurus and Water Street/PhilMor will look to build off the previous owner's success with the assets by making a strategic capital investment into each of the properties."

- See more at: http://www.bankerandtradesman.com/news158993.html#sthash.5wMbAHO3.dpuf