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$22M Grabs Berkshires Portfolio

STURBRIDGE, MA-The four-property, 366-unit portfolio was acquired from Equity Residential for $21.5 million.

By Ryan Clark | Updated on August 25, 2009

STURBRIDGE, MA-Equity Residential is parting ways with its four-property multifamily portfolio for $21.5 million. The 366-unit Berkshires Portfolio is landing in the hands of Berkshires DHC LLC.

The acquisition breaks down into four separate communities located in western Massachusetts. Van Deene Manor is 111-units spread throughout five buildings in West Springfield, MA. The buildings are two- and three-stories with a combo of one and two bedroom apartments, with the official address as 55 Van Deene Ave.

Sturbridge Meadows, taking its moniker from its town Sturbridge, MA, the 104-unit community is a combination of townhomes and flats. The community stretches through thirteen buildings, the oldest of which was constructed in 1960 with the newest topping out in 1984. Sturbridge’s rental rates range from $940 for a single bedroom to $1430 for a three-bedroom unit. The three bedroom is roughly 1,800-square-feet.

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