Multi-housing / PRS

Chestnut Place Apartments

13 Joanne Dr Ashland, Massachusetts United States 01721-2273
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1971
Building Area
Land Area ()
Number of units 207

Property Description

Jones Lang LaSalle (JLL) has been exclusively retained to market Chestnut Place Apartments (the “Community”), a 1971 vintage, 207-unit value-add apartment community located in Ashland, Massachusetts. Ashland is a premier Massachusetts town, boasting an average household income of over $161,000, 16.36% population growth from 2010 to 2020, a top-ranked school system (A rating from Niche), and premium lifestyle amenities such as the adjacent Ashland State Park and nearby retail within the “Golden Triangle”.

                      

Chestnut Place’s location offers convenient access to both downtown Boston and downtown Worcester, as well as the strong suburban office and lab market west of the city in the Interstate 495/Mass Pike Corridor. This location offers excellent access to virtually all forms of transportation. The Property lies 4.5 miles south of Interstate 90, the main east/west thoroughfare connecting western Massachusetts to downtown Boston and Logan International Airport and 6 miles east of Interstate 495, which surrounds the outer suburbs and connects Boston’s North Shore to Cape Cod. Route 135 also bisects Ashland, providing connectivity to other western suburbs. From a public transportation perspective, the site is located just 2.5 miles from the Ashland MBTA commuter rail station, which is located on the popular Framingham/Worcester line and provides access to Boston (57 minutes) and Worcester (40 minutes).

                                                

Chestnut Place Apartments provides investors the opportunity to invest in a high-quality community with substantial upside potential. The Property will be sold free and clear of debt financing, allowing prospective investors to structure the sale to take advantage of their unique capital strategy and today’s highly attractive financing.

Investment Highlights

  • 207 Unit Value-Add Opportunity
  • 96% Occupied
  • Proven renovation program
  • Excellent costs basis compared to new product and replacement costs
  • Convenient access to Suburban employment nodes
  • Minutes from MBTA Commuter rail


Last Updated Date: 02 Jun 2021
Adam Dunn
Adam Dunn
Senior Director, Capital Markets
Broker Licenses
MA-9553106 CT-REB.0755412 ME-DB922772
Christopher Phaneuf
Christopher Phaneuf
Managing Director, Capital Markets
Broker Licenses
MA-9032841

Please enter your corporate email account in the email field. We may not be able to reply to your personal email account or free email address such as Gmail or Yahoo Mail.

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 02 Jun 2021

Do you have any questions?  Visit our FAQ page

The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

Please go to the below link for our commitment to compliance (Japanese only).

https://www.joneslanglasalle.co.jp/ja/compliance-with-laws-and-regulations-and-its-representation

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.