The Brooks Company Acquires Fractured Condominium Community in Fitchburg
BOSTON – The Brooks Company, a Boston-based real estate development and investment firm, announced the acquisition of a 48-unit fractured condominium community in Fitchburg. Financial details were not disclosed.
The Falls at Arden Mills, constructed in 2007, is comprised of a three-story elevated residential building and a two-story clubhouse/office building situated on more than seven acres of landscaped grounds along the Nashua River, A majority of the units are two-bedrooms. Amenities, in addition to garage parking, include a clubhouse/lounge area, fitness center and an indoor swimming pool.
Other Brooks Company development projects include The Atlantic at Marina Bay, Quincy, 295 Carpenter Street, Providence, RI, The Fremont Lofts, Worcester, and 305 Dutton St., Lowell.
In a statement, Jeffrey Brooks, president, said “We will reposition this underperforming asset, and deliver superior residential product at steeply discounted prices to their original value”.
The community, located just off Route 2 and close to major interstate highways I-190 and I-495, offers convenient access to Boston via the MBTA’s Fitchburg Commuter Rail Line.