A New York real estate investment trust purchased a 10-building, 302-unit apartment complex on Arbor Drive in Shrewsbury for $40.5 million, according to CB Richard Ellis New England, which represented the seller in the transaction.
GE and John M. Corcoran & Co. sold The Commons at Haynes Farm to Home Properties of New York.
The complex was constructed in 1991 and is 97 percent occupied. The complex includes a pool, an indoor basketball court, tennis court and a fitness center.
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CBRE represented the seller and procured the buyer in the transaction.
