News: Front Section
Posted: July 9, 2015
Sower, Price and Karp of Boston Realty Advisors handle $19.75 million sale of Casco Crossing
Boston Realty Advisors (BRA) completed the sale of Casco Crossing, a 96-unit class A apartment community. The off-market trade was completed for $19.75 million or $205,769 per unit. BRA procured the buyer, JSIP Casco Crossing, LLC on behalf of the seller, Andover Portland Avenue Associates, LLC.
Casco Crossing, located at 168 River Rd., was constructed in 2007 and features one and two bedroom units, a fitness center, swimming pool and covered parking. The community offers accessibility into Boston and is proximate to the Commuter Rail, Rte. 93 and Rte. 495, providing residents with access to employment opportunities in Downtown Boston, Cambridge, and the I-95 corridor.
The sale of Casco Crossing was coordinated by the multi-housing investment sales team of BRA Chris Sower, Jen Price and Ben Karp.
"This transaction was driven by the high quality location, access to I-93 and the favorable debt environment. Both the buyer and seller were a pleasure to work with." said Sower.
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