Curated News
By: NewsRamp Editorial Staff
October 21, 2024
Boston Realty Advisors Completes Sale of Shawomet Gardens in Somerset, MA
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- Boston Realty Advisors, the largest independent commercial real estate brokerage, successfully closed the sale of Shawomet Gardens, despite high interest rates.
- Shawomet Gardens, a community of 240 garden residences in Somerset, MA, was sold by Audubon Road Associates after four months of negotiation.
- The sale of Shawomet Gardens provides an opportunity for new ownership to continue providing quality housing and maintain extensive green space for the community.
- Shawomet Gardens, built in the late 1940s by the U.S. Government, offers a glimpse into historical architecture and community development.
Impact - Why it Matters
This sale reflects the resiliency of the real estate market in the face of high interest rates and the importance of expert advisory services during challenging times.
Summary
Boston Realty Advisors, the Boston area’s largest independent commercial real estate brokerage, represented Audubon Road Associates in the sale of Shawomet Gardens, a community of 240 handsome garden residences in Somerset, MA. Despite high interest rates slowing real property transactions, Boston Realty Advisors advised the owners over about four months, leading to the closing of the sale of the market-rate apartments on Oct. 8. The apartments, built in the late 1940s by the U.S. Government and owned for decades by the same family, are in 60 well-maintained brick buildings with extensive green space over 12 acres.
Source Statement
This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Boston Realty Advisors Completes Sale of Shawomet Gardens in Somerset, MA
