Arrowpoint Properties acquires Elora Flats & Townhomes in Lawrence, MA

Lawrence, MA Arrowpoint Properties, a privately owned multifamily investment and management firm focused on New England, completed the acquisition of Legacy Park, a 2009-built residential community in Lawrence, marking a continued investment in the city the firm calls home. The property will be rebranded as Elora Flats & Townhomes, reflecting Arrowpoint’s vision to elevate and modernize the living experience for residents.

Located at 112 Marston St., the community consists of a four-story main apartment building alongside 24 direct-entry townhomes, offering a mix of housing options designed to meet the needs of today’s renters. The acquisition represents a strong core-plus, Class B investment, aligning with Arrowpoint’s strategy of identifying well-located multifamily assets with stable performance and long-term upside potential. Elora Flats & Townhomes offers a diverse residential mix and a highly desirable housing option that provides residents with enhanced convenience and a more neighborhood-oriented living experience. Arrowpoint plans to implement strategic upgrades and enhancements across the property to improve both interior living spaces and shared amenities.

Located immediately behind Arrowpoint’s corporate headquarters, the property presents a uniquely strategic opportunity for hands-on ownership and operational oversight. Its proximity enables Arrowpoint to leverage its in-house management expertise and maintain a close connection to the day-to-day resident experience. 

“Lawrence is where we’re rooted,” said David Lamattina, president of Arrowpoint Properties. “Repositioning Legacy Park as Elora Flats and Townhomes is an opportunity to bring thoughtful improvements to an already strong asset while continuing to contribute to the growth and vibrancy of this community.”

“This acquisition reflects our long-term confidence in Lawrence,” said Jay Goldberg, managing director of Arrowpoint Properties. “We see significant potential in this property and are excited to deliver a refreshed residential experience that aligns with the evolving expectations of residents in this market.”

The rebranding to Elora Flats & Townhomes will be accompanied by targeted capital improvements and a renewed focus on resident experience, positioning the community as a standout residential offering in the Merrimack Valley.

The Elora Flats & Townhomes blends thoughtful in-home features with practical community conveniences to support everyday living. Inside each residence, open floor plans, eat-in kitchens with maple cabinetry, oversized windows, and generous closet space create bright, functional spaces that feel like home. Select townhomes also offer private entrances and in-home washer/dryer hookups for added ease. 

Beyond the front door, residents will benefit from a well-managed, comfortable community environment under Arrowpoint, with controlled access buildings, elevator service, ample parking, and on-site laundry facilities. Additional perks like extra storage, 24/7 emergency maintenance, and professional on-site management ensure a seamless living experience.

Arrowpoint’s acquisition of Elora Flats & Townhomes builds on the firm’s deep roots in Lawrence, where it has owned and managed real estate for more than 22 years. This longstanding local presence reflects Arrowpoint’s commitment to the city and provides the company with an intimate understanding of the market and opportunities to create long-term value through thoughtful property management and investment.