Taurus teams with Newton firm to pay $20M for Chelmsford multifamily complex

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Boston Business Journal - A Massachusetts entity run by Taurus Investment Holdings of Boston and Water Street/PhilMor Real Estate Investments of Newton has paid $20 million for an 180-unit apartment development in Chelmsford.The deal closed Thursday, March 26, and saw the buyers land a $16.13 million mortgage from Leader Bank in Cambridge. The financing was arranged by CBRE/New England's capital markets team in Boston.

 

The Meadows, a 180-unit apartment community in Chelmsford, was built in 1987 and last sold for $8.2 million in 1999. The property's last owner of record, prior to this month's deal, was a Massachusetts LLC whose principal officers included senior executives from Corcoran Management in Braintree.