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Colliers Boston sells former Newbury College campus

Boston, MA, September 17, 2019  – Colliers International Boston announces that the former Newbury College campus has officially sold for $34 million to Welltower, a real estate investment trust primarily investing in senior housing, assisted living, memory care, post-acute care, and medical office type projects. The 7.8-acre campus was offered for sale in February of 2019, branded as The Common at Fisher Hill, and experienced widespread interest from a variety of local, regional, and international investors.

Colliers International’s multi-disciplinary team of Senior Vice President Christopher Sower of the Capital Markets group, Vice Chair James Elcock, Co-Chair Tom Hynes, and Senior Vice President Bob Cronin led a competitive sales process to identify qualified buyers interested in pursuing the multitude of redevelopment options. The unique campus opportunity presented 142,000 GSF across 8 existing structures in one of greater Boston’s most affluent and desirable peripheral communities: Brookline, Massachusetts.

“We enjoyed working side-by-side with Newbury College in vetting potential buyers of the campus and ultimately deciding on the one whose intentions best aligned with the College’s goals,” noted Sower. “While it is always unfortunate to witness the closure of such an esteemed academic institution,” added Elcock, “we appreciate the opportunity it has created for Brookline to embrace a new type of use that will serve the community.”

 

190917 colliers boston sells former newbury college campus

 

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About Colliers International Group

Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI) is an industry-leading global real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn. To see the latest news on Colliers International in Boston, follow @Colliers_Boston.



For further information, please contact:
Jen Weber
InkHouse for Colliers
Phone: 781.966.4130
Email: colliers@inkhouse.com