News: Front Section
Posted: April 22, 2022
Perun of Northeast Private Client Group brokers $3.875 million sale of Columba Court in Chicopee, MA
Chicopee, MA Northeast Private Client Group (NEPCG) has announced the sale of Columba Court. Senior associate Taylor Perun represented the seller and procured the buyer for the multifamily transaction.
Columba Court sold for $3.875 million, equating to $121,094 per unit and a cap rate of 6.45%. The 32-unit multifamily property consists of 16 one-bedroom apartments and 16 two-bedroom apartments. The apartments have off-street parking and laundry facilities. Columba Court is professionally managed and maintained; nearly all units received recent upgrades, including new carpeting, kitchens, and bathrooms.
Senior associate Taylor Perun has closed a sale volume of over $184 million across 93 transactions. Perun specializes in multifamily real estate portfolios, offices, shopping centers, and retail/mixed-use properties throughout Connecticut and Massachusetts.
“Chicopee and Western, MA remain a highly sought-after area to own multifamily properties. Much of this is a combination of renter demand and low inventory. The turnover in legacy ownership has allowed new investors to realize generous upside potential through raising historically low rents to market levels,” said Perun.
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