Milford Multifamily Property Trades for $13.55M


Photo courtesy of CBRE.

A Milford market-rate apartment community has sold for $13.55 million.

Brookstone Manor, a complex consisting of four separate garden-style buildings and a two-story duplex building built in 1985, is located a short drive from downtown Milford and near major job centers in Manchester and Nashua.

The units in the complex contain a mix of one-bedroom, two-bedroom and three-bedroom flats, with an average size of 845 square feet per unit. Prior to the sale, the seller had completely renovated 70 percent of the units. Renovations included the installation of in-unit washer/dryers. A further 13 units were partially renovated.

On-site amenities include on-site storage, a dog park, playground and grilling stations.

CBRE multi-housing specialists Simon Butler and Biria St. John of its capital markets team exclusively represented the seller, Aspen Square Management, and procured the buyer, Chestnut Realty Partners.