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News:
Owners Developers & Managers
Posted: December 16, 2022
Northeast Private Client Group sells a 14-building multifamily portfolio in Holyoke, MA
Holyoke, MA Northeast Private Client Group (NEPCG) has completed the sale of the Holyoke and Springfield multifamily portfolio.
Senior associate Taylor Perun, investment associate Alex Burr, and associate Cameron Formica represented the seller and procured the buyer for these multifamily transactions.
Holyoke multifamily/mixed-use portfolio is a 102-unit multifamily portfolio that includes ten buildings consisting of 93 apartments and nine retail/commercial/office units.
Springfield multifamily portfolio is a 71-unit apartment portfolio. The portfolio is comprised of four buildings in the city. Specifics of the sale were not disclosed.
“The Holyoke and Springfield markets continue to see a tremendous amount of investor interest. As a result of higher interest rates, these higher CAP rate deals offer more resilience to investors’ cash-on-cash returns. Couple this with extremely strong occupancy and raising rents, and these markets continue to see attractive growth,” said Perun.
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