Updated Jun 2, 2025
Daniel Shaeffer Of Cottonwood Residential Sells Parc Westborough Multifamily In Westborough For $96.2M
346 Turnpike Road
$96,175,000
Units
249
Asset Type
MultiFamily
Closing
Jun 2, 2025
About this deal
AI
The transaction involves the sale of a multifamily asset located at 346 Turnpike Road in Westborough, MA. The property, known as Parc Westborough, consists of 249 units with a price per unit of $386,245. The total sale price reached $96,175,000. Built in 2016, the community features four buildings and offers various amenities, including a resort-style pool, fitness center, and garage parking. It was previously sold for $65.5 million in 2018.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $96,175,000
- Units: 249
- Price Per Unit: $386,245
- Seller: Daniel Shaeffer - Cottonwood Residential
- Broker: CBRE
An undisclosed buyer has successfully acquired the property from Cottonwood Residential, facilitated by the brokerage firm CBRE. This transaction reflects ongoing activity in the multifamily market within the Westborough area.
On the Map
$96,175,000
MultiFamily
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Players
Westborough MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $386.2K per unit across 249 units on a published $96.2M (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93