Braun and Creahan of United Multi Family broker the sale of three apartment buildings totaling $7.984 million

September 29, 2017 - Spotlights
2050-2100 County Street - Attleboro, MA

Attleboro, MA Jason Braun and Jack Creahan of United Multi Family (UMF) have brokered three sales totaling $7.984 million in Mass. The sales include the following:

Jason Braun, United Multi Family

 

Jack Creahan, United Multi Family

 

• UMF brokered the sale of a 36-unit apartment building at 2050-2100 County St. for $4.3 million ($119,444 per unit). The sale was handled by Braun. The vinyl and brick sided residences were built in 1987 and consisted of 30 two-bedroom and 6 one-bedroom apartments in 3 twelve-unit buildings. The property was sold by Ohlson Stern Management to Scotia Middlesex LLC with the buyer assuming the existing debt with Arbor Commercial.

393 Wilder Street - Lowell, MA

• UMF brokered the sale of a 17 unit apartment building with 12 two-bedrooms and 5 one-bedrooms at 393 Wilder St. in Lowell, for $1.794 million ($105,529 per unit). The sale was handled by Creahan. The brick residences were built in 1960 and sold by Wilder Street Realty LLC to Lighthouse Group Properties LLC with financing provided by Enterprise Bank & Trust. The CAP rate at the time of sale was 7.12% with the property having a gross annual income of $189,600. 

102-114 Water Street - Lawrence, MA

• UMF brokered the sale of a 26 unit apartment building at 102-114 Water St. in Lawrence, for $1.89 million ($72,692 per unit). The sale was handled by Creahan. The property was built in 1940 comprised of 2 four-bedroom, 20 three-bedroom and 4 two-bedroom apartments. The property was sold by Salvatore Valente to Z4 Jordan Properties LLC with financing provided by Leader Bank. The CAP rate at the time of sale was 10.63% with the property having a gross annual income of $320,400.

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