156-Unit Marlborough Apartment Complex Sells for $59.2M
May 20, 2022
Orchards Apartments in Marlborough, MA has sold for $59.2 million. The 156-unit complex was completed in 2002. The buyer is affiliated with TIAA-CREF out of New York City.
The property, located on 23 acres, at 3 Farmhouse lane and was formerly known as Avalon Orchards Apartments until 2019, when National Development purchased the residential development for $44.3 million from the original developer AvalonBay. National Development performed updates to the property, beginning with phased unit renovations and select improvements to landscaping and amenity areas.