Marlborough apartments sell for $101M
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Known as The Point at Marlborough, an apartment complex at 21 Austen Way sold for $101 million.
A 205-unit apartment complex in Marlborough sold for $101 million in a deal closed Tuesday, according to the Middlesex South District Registry of Deeds.
The complex at 21 Austen Way was formerly known as The Point, and will now be called The Retreat.
It was sold by an entity registered to the address of Pantzer Properties, a New York-based property management firm which owns apartment communities throughout the East Coast, including one in Hudson three miles away from the recently sold Marlborough complex.
The buyer, Greystar, has a similar portfolio of upscale rental complexes, but is larger than Pantzer. Greystar, which is headquartered in South Carolina and has Boston offices, owns the Marlborough complexes Avana Marlborough and Stone Gate Apartments, as well as The 6Hundred and Colton Apartments in Worcester.
The firm has a development wing, as well, and in November proposed a 196-unit senior housing project in Shrewsbury.
Tuesday’s sale was well above the assessed value and the previous sale of 21 Austen Way. The property is assessed by the City of Marlborough at just over $51 million, and was last sold for $65.2 million in 2018, according to the Marlborough assessors’ database.
It's also one of the priciest sales in Central Massachusetts within the last year, along with apartment complexes in Westborough and Milford selling for $100 million and $87 million respectively.
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