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316 Luxury Units Trade in $107M Deal

QUINCY, MA-Archstone-Smith adds to its Bay State holdings with the acquisition of the recently constructed Village at Quarry Hills.

By Beverly Ford | Updated on October 06, 2006

QUINCY, MA-Archstone-Smith has picked up its 14th Bay State apartment community with the $107-million acquisition of a newly built, 316 unit luxury complex here.

Marci Griffith Loeber, with Cushman & Wakefield’s Capital Markets Group, tells GlobeSt.com that the Village at Quarry Hills, located at 333 Ricciuti Dr, brought out about a dozen bidders but it was a top bid by the Englewood, CO buyer and the firm’s reputation in the multifamily industry that won over the property’s developer, Houston-based Finger Cos.

“We had a fair amount of interest because it was a great site and a great development,” Loeber says of the property, located just seven miles from Downtown Boston.

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