Westbrook Partners acquires Vanguard at Waterfront Square apartments on Revere Beach for nearly $60 million
Westbrook Partners has acquired the 194-unit Vanguard at Waterfront Square luxury apartment community on Revere Beach, which opened in 2016, for $59.85 million in cash. The sale amounts to approximately $308,505 per unit. The Bozzuto Group has assumed management of Vanguard at Waterfront Square with Westbrook Partners’ acquisition. The project’s seller, a joint venture of Covington Realty Partners and Real Estate Capital Partners, paid $41.7 million to develop Vanguard at Waterfront Square. Vanguard at Waterfront Square features two new-construction buildings located steps from the MBTA Blue Line with amenities including a fitness center, a swimming pool, a clubroom, a business center, garage parking and sweeping ocean views throughout. Westbrook Partners is currently developing The Aberdeen, a 40-unit luxury condominium building in Brighton, and is proposing to construct 55 Wheeler Street, a 526-unit apartment community in West Cambridge, in a joint venture with Redgate.
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