According to The Hamilton Company, Hamilton Northeast, LLC, a subsidiary of Hamilton, purchased a 134-unit apartment community from Boston Land Development. Utilizing its credit facility, Hamilton purchased the property for $52 million and was financed by Matt Purtell of KeyBank, N.A.
Represented by Sally Michael of Dionne & Gass, this purchase along with 9 other purchases made in the past 3 years total just shy of $300 million by The Hamilton Co.
"These well developed, managed and maintained buildings will continue to meet the moderate priced housing needs of the South End residents and Northeastern University's student population. We will be providing the same high standard of care to which our residents are familiar," said Carl Valeri, president of Hamilton.
Comprising an entire city block in the Northeastern University Campus, the property at 650 Columbus Ave. consists of a 141 car garage parking, 33 condominium units and 134 apartment rentals all to be managed under one condominium umbrella.
Hamilton Co., owned by Harold Brown, is one of the largest privately owned full service real estate organizations in the state. It owns and operates in excess of 5,000 apartments and 3 million s/f of commercial property throughout eastern Mass.