This Week
  • Elizabeth Schirmer Shores uses travelers as vehicles for technology in remote locales.

  • North American Breweries CEO sees plenty of potential to grow again.

  • It's not business as usual in building relationships with millennials.

  • Premium Mortgage has grown considerably in the past seven years.

  • MCC Foundation's Diane Shoger knows "how philanthropy works."

  • The 2015 edition features an exclusive interview with Paychex CEO Martin Mucci.

Home Properties buys Mass. apartments for $40.3M

Rochester Business Journal
December 20, 2013

Home Properties Inc. has purchased the Middlesex Crossing apartment community in Billerica, Mass., for $40.3 million in cash.

The 252-unit apartment community is 18 miles northwest of Boston and was 96 percent occupied at closing, with rents average $1,420, the company said.

Built in three phases from l969 to l974, Middlesex Crossing consists of 11 three-story brick garden-style apartment buildings.

During the first three years of ownership, Home Properties expects to spend some $3.7 million, in addition to normal capital expenditures, to upgrade individual units.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google