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MARLBOROUGH, MA-A New York investment firm has taken ownership of 164-unit class A apartment community in Marlborough in a deal that gives the buyer a stabilized asset and its first Bay State holding. The selling price was $34.2 million.

Sentinel Real Estate Corp., which owns apartments, offices, shopping centers and industrial properties throughout the US, picked up the Applebriar Apartments at One Applebriar Lane for an undisclosed price from Metropolitan Life, a real estate professional familiar with the sale tells GlobeSt.com. The source says Sentinel paid "several million dollars" for the property but was prevented from releasing the actual transaction price because of a confidentiality agreement between the two parties.

The property, located on 26 landscaped acres, was about 95% occupied at the time of sale, the real estate insider says. "This is just a real core asset," says the source. "The location was great with easy access to Route 495 and it had a good community feel to it with lush landscape and upgraded units."