CBRE/New England's capital markets team completed the sale of James Court Apartments, a 136-unit apartment community. Harrison Commons, LLC, a venture between RF Walsh Company, Kenney Development and National Real Estate Advisors, sold the asset to an undisclosed buyer for $53.555 million.
CBRE/NE's multi-housing experts Simon Butler, executive vice president/partner and Biria St. John, executive vice president and partner, exclusively represented the seller and procured the buyer.
"We are pleased to have facilitated this transaction on behalf of the seller," said St. John. "James Court represents an outstanding opportunity for the buyer to acquire a class A asset with good upside potential in the South End of Boston, directly across from the Boston Medical Center and the Boston University Dental School."
The buyer has retained Fulton Properties, a subsidiary of Kenney Development Inc., to continue to oversee the leasing and management of this property. "We look forward to expanding our relationship with the buyer on this and other assets in the South End and continue our work on what has been a successful project," said Robert Kenney, president.
James Court is a 136-unit, class A apartment community located on the grounds of the original Boston College High School. The development team of RF Walsh and Kenney Development created a unique development with the construction of this seven-story, class A asset that complimented the development of the Penmark Condominiums in the adjacent BC High School building. The two properties share parking in the three-level underground parking garage. Constructed of steel frame with brick veneer and metal panel exterior, the property features a full complement of amenities and services including; 24-hour concierge service, a complimentary coffee bar, fitness center, valet dry cleaning and laundry, on-site laundry facilities, high-speed internet access, MBTA transportation steps away, professionally landscaped courtyard and on-site management and maintenance.