Boxborough, MA

CBRE Arranges Sale of 244-Unit Multifamily Community in Boxborough, MA

04 Feb 2022

Paddock Estates

CBRE announced today that it has arranged the sale of Paddock Estates, a 244-unit, Class A garden-style apartment community located at 1 Paddock Lane in Boxborough, Massachusetts. 

CBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. John and John McLaughlin exclusively represented the seller, Jefferson at Beaver Brook, LLC, an affiliate of JPI from Irving, TX, and also procured the buyer.

Completed in 2017, Paddock Estates is comprised of 11 two and three-story garden-style apartment buildings, and a modern farmhouse design inspired clubhouse with an on-site leasing office and numerous amenities including a fully equipped fitness center, heated outdoor pool, and other unique outdoor amenities. The buildings consist of one, two, and three-bedroom apartment homes with an average size of 980 sq. ft. 

Paddock Estates is conveniently located at the interchange of Route 111 and I-495, providing easy access to numerous different employment centers. The community is within close proximity to the commuter rail in both Littleton and South Acton, and a short drive to many retail offerings in neighboring Littleton and Hudson. 

“We are pleased to have represented JPI in the sale of Paddock Estates. This marked the successful conclusion of their investment plan and vision for this asset,” stated Butler. “Paddock Estates offers the buyer the ability to acquire a best-in-class asset in a top tier school district, with limited supply and prospects for strong long-term returns.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.