News:
Owners Developers & Managers
Posted: January 26, 2024
Smith, Pentore and Kelleher of Horvath & Tremblay
broker $3.8m sale of 38-unit multifamily portfolio
Fall River, MA Spencer Smith, John Pentore and Dennis Kelleher of Horvath & Tremblay have completed the sale of the Winter Collection, a 38-unit multifamily portfolio. The four-building portfolio closed for $3.8 million at $100,447 per unit and at a 7.48% cap rate.
The Winter Collection consists of four multifamily properties located at 107, 121-127, 133-137, and 163 Winter St. in the historic Lower Highlands section of the city. The portfolio contains 38 units consisting of 30 one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and seven studio units in 20,433 s/f of living area on 0.76 acres.
The portfolio is positioned along Winter St. and is close to the Charlton Memorial Hospital and the future Fall River Train Station (MBTA – Stoughton Line) which is scheduled to open in 2024. The Winter Collection provided a rare opportunity to acquire a critical mass of co-located, multifamily properties in a supply-constrained rental market.
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