Workforce Housing Changes Hands in Western Massachusetts
Northeast Private Client Group (NPCG) arranged the sale of Beech Tree Apartments in Great Barrington, MA. Although the sale price was not disclosed, the workforce housing complex last traded for approximately $8 million.
SVP, Investments Taylor Perun and managing director Brad Balletto represented the seller, Rowin Capital, and procured the buyer, the Alander Group, which plans upgrades according to the Berkshire Eagle. The seller is a partnership managed by Daniel Scherban and Joseph Scherban.
Beech Tree Apartments is a 66-unit multifamily community located at 24 Silver St. in Great Barrington. The property spans 4.53 acres and includes eight residential buildings totaling 47,976 square feet, built in 1972.
Situated in the Berkshires, the property offers the buyer a well-positioned multifamily asset in one of western Massachusetts’ most desirable and supply-constrained markets, with strong year-round rental demand driven by the region’s robust tourism, arts, and cultural economy, according to NPCG.
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Fourth Sale Closes in Anaheim Multifamily Portfolio
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JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout