News: Front Section
Posted: August 24, 2018
The Grossman Cos. and Waypoint Cos. sell Trac 75 for $42.5 million - Colliers reps sellers and Coldwell Banker reps buyer
Allston, MA Colliers International’s multifamily investment sales team, led by senior vice president Christopher Sower, has completed the sale of Trac 75, an 80-unit apartment community developed via a joint venture between affiliates of The Grossman Companies, Inc. and The Waypoint Companies. The property sold for $42.5 million to a private family office.
Trac 75 is located at 75 Braintree St. and hosts a mix of studio, 1, 2 and 3-bedroom units along with a wide range of community amenities.
Located near the new Boston Landing MBTA Commuter Rail Station, Trac 75 is also surrounded by local amenities including Stop & Shop, Lulu’s Allston, Tavern in the Square, Deep Ellum and is within close proximity to a variety of restaurants. It has also been deemed a walkable destination with a Walk Score of 91 out of 100.
With increased demand due to major developments such as Boston Landing and Harvard University’s Lower Allston campus expansion, Trac 75 is poised to benefit from the continued growth.
Trac 75 will continue to be managed by The Dolben Cos.
“We enjoyed working with The Grossman Companies on an assignment of this caliber and visibility and believe it was a mutually beneficial transaction for both buyer and seller,” said Sower
In addition to Sower, the Colliers team on the assignment included vice president Bruce Lusa, assistant vice president Jonathan Bryant, associate John Flaherty, and senior client services specialist Maggie Collins with legal services by Michael Dowley of Seyfarth.
Albert Bouchie with Coldwell Banker Commercial and Jack Yang of Coldwell Banker Residential Brokerage represented the buyer with legal services by Andrew Sucoff of Goodwin.
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