News: Front Section
Posted: January 29, 2016
Sower, Price and Collins of Boston Realty Advisors handle $63.1 million portfolio sale
136-138 Highland Avenue - Somerville, MABoston, MA On January 5, a 190-unit apartment portfolio was sold on behalf of True North Capital Partners. Trading at $63.1 million (or $332,105/unit), the four building portfolio was purchased by Akelius US, LLC, a Sweden-based real estate company. The sale was completed by Boston Realty Advisor’s (BRA) multifamily investment sales team of Christopher Sower, Jen Price, and Maggie Collins.
Price, senior associate, said, “We are enthusiastic about helping Akelius continue to grow their Boston portfolio and found a perfect match with the True North assets.”
Christopher Sower, Boston Realty Advisors
Jen Price, Boston Realty Advisors
Sower, managing director & senior partner, said, “Working in partnership with the True North Capital Partners team and Akelius, US was a pleasure. The high-quality real estate portfolio has been exceptionally maintained and 100% leased, leading to a sound and enjoyable disposition process. We are sincerely happy for all parties involved and look forward to continuing to work with them through 2016 and beyond.”
The portfolio consisted of 89 units in the city’s Brighton neighborhood at 4-8-12 Elko St. and 286-288 Chestnut Hill Ave. and 101 units in Somerville’s Spring Hill neighborhood at 123 Highland Ave. and 136-138 Highland Ave.
BRA is a privately-held commercial brokerage firm based in Boston. BRA specializes in the sale and leasing of investment and commercial properties throughout N.E.
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,
Columns and Thought Leadership
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:
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.
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.
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.