News: Front Section
Posted: January 31, 2013
Butler and St. John of CB Richard Ellis - N.E. Partners, LP' arrange $13 million sale of University Apartments
CB Richard Ellis - N.E. Partners, LP's (CBRE/NE) capital markets team completed the sale of University Apartments, a 92-unit apartment community for $13 million. CBRE/NE exclusively represented the seller Emerald Realty Trust 1, and procured the buyer, Horn Pond Apartments, LLC, an investor group led by True North Capital Partners.
CBRE/NE's multi-housing experts Simon Butler, executive vice president/partner, and Biria St. John, executive vice president/partner, exclusively represented the seller and procured the buyer.
"We are pleased to have facilitated this transaction on behalf of the seller," said Butler.
University Apartments was originally constructed in 1960 and is comprised of 92 units spread through eight 3-story garden style apartment buildings over 2.6 acres. The community is located across from Horn Pond and sits on the Winchester/Woburn line. The property has access to downtown Boston via I-93, as well as the commuter rail station in Winchester.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: