Canton, MA JLL’s Capital Markets experts completed the sale of the Arboretum Apartments. Universal Realty Inc. purchased the 156-unit, value-add multifamily asset. According to public records, the property sold for $28.6 million. Managing directors Travis D’Amato and Michael Coyne, and vice presidents Kevin Gleason and Brendan Shields led the JLL team on the deal.
“Arboretum Apartments presented a tremendous opportunity to take advantage of a thriving suburban multifamily market at a discount to the surrounding assets,” said D’Amato.
Located off Rte. 138, Arboretum Apartments is 11 miles south of downtown Boston. Residents are connected to the city via the nearby Canton Junction MBTA commuter train and are also within two miles of several retail and dining options.
Comprised of 12 buildings and a resident clubhouse, Arboretum Apartments offer community amenities such as an on-site dog park, an outdoor basketball court, a fitness center, a grilling area, a pool and a playground. In-unit amenities include private balconies, washer/dryer, central air conditioning, walk-in closets and kitchens with breakfast bars.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm“s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
JLL is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4 billion s/f, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Inc.
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