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News: Front Section
Posted: March 22, 2019
Premier Capital Partners purchases five buildings for $32.45 million
Boston, MA Premier Capital Partners LLC has purchased five apartment buildings for $32.45 million. The properties consist of 58 short-term/licensed lodging-house units which Premier purchased in August 2018, and 48 short-term/licensed lodging-house units and 7,000 s/f of commercial space, currently occupied by Democracy Brewing, which Premier purchased in February.
Managing partners Russ Oken and Robert Weintraub plan to offer these 106 residential units as a high-quality alternative to the city’s traditional short-term housing options. “These properties are located in fantastic areas that are ideal for travelers, relocating professionals and extended stay guests to Boston” said Oken.
Colliers International represented the sellers, and Hingham Institution for Savings provided Premier with its mortgage financing.
Premier is a real estate investment firm that, together with its closely held affiliates, manages more than 5,000 hospitality and multi-family residential units throughout the Northeast. Premier syndicates its deals to high-net-worth individuals, family offices and institutional investors. With a track record of delivering significant investor returns, each of these deals were quickly over-subscribed by investors. Premier is confident in the strength of the city’s real estate market and is currently in negotiations for a future acquisition.
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