What apartment complex just sold in the Hamburg area

A large apartment complex in Hamburg has just sold, but for how much? What complex is it? Who was it sold to? Where exactly is the complex located?

The Fountains at Andover is a 318-unit apartment complex that is located on Todds Road has sold. The complex was bought by The Wilkinson Group for a total of $31 million, around $97,500 per unit.

This complex was built in 1996 and under new ownership will go through a renovation and name change.

“The Fountains at Andover, now called Reserve at Hamburg, resides in one of Lexington’s most affluent submarkets,” said Mike Kemether of Cushman & Wakefield, which represented the seller, Fountains of Andover Brookfield. “With the new owner planning to invest in upgrading the property, I am really excited to see the transformation that will take place.”

The complex sold previously a little over 10 years ago in 2007 for $28.5 million.

Other top complexes that have been sold recently in Lexington are:

• Student apartments on Angliana, $40.8 million
• The Henry at The Summit at Fritz Farm, $64 million
• WaterStone on Polo Club in Hamburg, $44 million
• Forty57 on Mooncoin in Beaumont, $52 million
• Racquet Club on Crosby Drive, $51.5 million