Greg Fowler Of FPA Multifamily Acquires Gardencrest Apartment Homes From Jordan E. Slone For $221M

The transaction involves the acquisition of Gardencrest Apartment Homes located at 22 Middlesex Circle in Waltham, MA. This multifamily property consists of 696 units and was sold for $221 million, representing a price per unit of $317,529.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $221,000,000
• Buyer: Greg Fowler - FPA Multifamily
• Seller: Jordan E. Slone - Harbor Group International
• Brokerage: Biria St. John, Brian Bowler, John McLaughlin & Simon Butler - CBRE
• Units: 696
• Price Per Unit: $317,529
• Acquisition Loan Amount: $156.1 million

This acquisition is noted as the largest multifamily sale in the Boston area for the year, with future plans for property renovations and a rebranding as ReNew Waltham by FPA Multifamily.