Broughton Drive Owner LLC Acquires Multifamily Property In Beverly, MA For $72.7M

Located in Beverly, MA, the multifamily property at 201 Broughton Drive has been sold in a recent transaction. The sale took place on 12/21/2020, and the property was acquired by Broughton Drive Owner LLC. It was sold by PhilMor Real Estate Investments and Taurus Investment Holdings. The sale price for this transaction amounted to $72,700,000, with a total of 204 units. This equates to a price per unit of $356,373.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $72,700,000
• Address: 201 Broughton Drive, Beverly, MA
• Market: Beverly, MA
• Seller: PhilMor Real Estate Investments & Taurus Investment Holdings
• Buyer: Broughton Drive Owner LLC
• Brokers: Simon Butler, Biria St. John, & John McLaughlin - CBRE
• Units: 204
• Price per Unit: $356,373

The deal was facilitated by CBRE's brokers Simon Butler, Biria St. John, and John McLaughlin. They represented both the seller, PhilMor Real Estate Investments & Taurus Investment Holdings, and the buyer, Broughton Drive Owner LLC. Their expertise helped bring the transaction to fruition, and their involvement showcases their proficiency in the real estate market.