Marlborough Apartment Complex Sells For Nearly $60M

MARLBOROUGH, MA — The Orchards apartment complex in Marlborough has been sold to a real estate investment company for close to $60 million, according to the Boston Real Estate Times.

The 156-unit complex along Boston Post Road East was sold by Newton-based National Development to a subsidiary of Chicago-based Nuveen Real Estate called TREA Orchards Apartments LLC, according to the Middlesex South Registry Of Deeds.

Nuveen is a real estate investment arm of TIAA, the Teachers Insurance and Annuity Association.

The Orchards was built in 2002 and includes one and two-bedroom units, and some loft-style apartments, according to the website.