136-138 Highland Avenue - Somerville, MABoston, MA On January 5, a 190-unit apartment portfolio was sold on behalf of True North Capital Partners. Trading at $63.1 million (or $332,105/unit), the four building portfolio was purchased by Akelius US, LLC, a Sweden-based real estate company. The sale was completed by Boston Realty Advisor’s (BRA) multifamily investment sales team of Christopher Sower, Jen Price, and Maggie Collins.
Price, senior associate, said, “We are enthusiastic about helping Akelius continue to grow their Boston portfolio and found a perfect match with the True North assets.”
Sower, managing director & senior partner, said, “Working in partnership with the True North Capital Partners team and Akelius, US was a pleasure. The high-quality real estate portfolio has been exceptionally maintained and 100% leased, leading to a sound and enjoyable disposition process. We are sincerely happy for all parties involved and look forward to continuing to work with them through 2016 and beyond.”
The portfolio consisted of 89 units in the city’s Brighton neighborhood at 4-8-12 Elko St. and 286-288 Chestnut Hill Ave. and 101 units in Somerville’s Spring Hill neighborhood at 123 Highland Ave. and 136-138 Highland Ave.
BRA is a privately-held commercial brokerage firm based in Boston. BRA specializes in the sale and leasing of investment and commercial properties throughout N.E.
