News: Front Section
Posted: September 1, 2017
JLL Capital Markets team brokers sale of 182 unit The Washingtons
Melrose, MA JLL’s Capital Markets experts arranged the sale of The Washingtons, a 182-unit multifamily community. Monogram Residential Trust purchased the community from Wood Partners. According to public record the property sold for $75 million.
Managing directors Travis D’Amato and Michael Coyne, along with vice presidents Brendan Shields and Kevin Gleason, led the JLL team on the transaction.
“Outer Urban Boston continues to be in demand as investors look to capitalize on the city’s momentum,” said D’Amato. “This luxury rental community offers everything today’s core buyer is looking for, including being located a short walk to the MBTA Orange line.”
The Washingtons, located at 2 and 37 Washington St., is a transit-oriented community that provides residents with access to downtown Boston. The community also includes a rooftop deck with outdoor seating and a resident lounge with a kitchen and bar.
JLL is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion s/f, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
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