Wakefield, MA Colliers International’s multi-family investment sales team completed the $45.2 million sale of a two-community, 185-unit suburban apartment portfolio. True North Capital Partners’ portfolio, comprised of Wakefield Vista Apartments at 105-109 Hopkins St. in Wakefield, and Dover Heights Apartments at 117 Central St. in Acton, was purchased by OBP Partners. Access via the major thoroughfares of each town, proximity to the Wakefield and South Acton MBTA commuter rail stations, and strong occupancy elevated the overall allure of the portfolio.
“We have seen tremendous investor appetite for commuter rail-centric, suburban apartment product,” said senior vice president Christopher Sower. “As Boston rents continue pushing to unprecedented levels, tenants seem to be growing more comfortable within suburban surroundings so long as they remain connected to the City via train.”
The Colliers team on the assignment included Sower, Bruce Lusa, Jonathan Bryant, John Flaherty and Maggie Collins.
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