3/19/2008

RREEF sells 274 units in Massachusetts

by Michael Wayne

Jefferson at Wheeler Hill

RREEF Real Estate has sold the Jefferson at Wheeler Hill Apartments in Marlborough, Mass., to Steven D. Bell & Company. Terms of the deal were not disclosed, but the property has a value of $27.7 million, according to Marlborough assessment records.

Paul Donahue, Travis D'Amato and Malcolm McComb of CB Richard Ellis represented RREEF in the sale and procured the buyer.

The Jefferson at Wheeler Hill is a 274-unit apartment complex that is situated on a 56-acre wooded site at 21 Austen Way in Marlborough, about 40 miles west of Boston. The eight-building property was built in 2002.

Donahue is a senior VP and partner with CBRE and specializes in the marketing and sale of multi-family properties in New England. Prior to joining the firm, he was the managing director of Holliday Fenoglio Fowler's Boston office.

D'Amato is a VP with CBRE's Capital Markets Team in Boston. He specializes in multi-family investment sales and is a former employee of WinnResidential and Apartment Realty Advisors. D'Amato is a graduate of Dartmouth College and was a member of the National Society of Collegiate Scholars.

McComb is a vice chairman with CBRE's Investment Properties Group and a member of the firm's Institutional Group in Atlanta. He has worked with clients such as AMLI Residential, Archon, Bershire Realty Holdings, Post Properties, TIAA-CREF and Trammell Crow Residential. McComb is a graduate of Emory University and Furman University.

Address: 21 Austen Way, Marlborough, Mass.

Size: 274 units

Built: 2002

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Filed Under: Multi-Family

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