A California real estate investment firm has purchased a large three-building, 562-unit apartment complex in Westborough for $130 million.
FPA Multifamily, via Massachusetts business entity FPACP4 Foutainhead LLC, closed on the sale of the Fountainhead apartments on Route 9 Thursday, according to a land deed.
The previous owner was Northland Investment Corp. of Newton, which last purchased the site for about $84 million in 2014. Northland owns properties in eight states, including Massachusetts, Connecticut, Florida, Texas and Arizona.
The buildings were last assessed this year for a combined $65 million. They are located directly off of Route 9, less than five miles from I-495 and six miles from Worcester.
The apartments offer a mix of studio, one-, two- and three-bedroom floor plans. Other amenities include a pool, fitness center and playground along with tennis and basketball courts.
