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Seven Springs Apartments Sold to New Investor

The Seven Springs apartment complex will be under new ownership.

Boston Real Estate Times reported that Seven Springs, the 331-unit garden-style apartment community located at 1 Seven Springs Lane off Middlesex Turnpike has been sold from Arborpoint at Burlington LLC, a joint venture between Clarion Partners and National Development, to an unnamed buyer.

The deal was reached with assistance from Commercial Real Estate Service company CBRE. Simon Butler of CBRE said the company was glad they were able to help procure the sale of the property.

“We are pleased to have represented both Clarion and National Development in their successful sale of Seven Springs,” The Boston Real Estate Times quoted Butler as saying. “This marked the successful execution of National’s vision for Seven Springs, having developed the community in 2006. The community offers the buyer the ability to generate strong long-term returns given its outstanding location in the dynamic Burlington market.”