BOSTON – Colliers International’s Multi-Family Investment Sales team announced the $45.2 million sale of a two-community, 185-unit suburban apartment portfolio.
True North Capital Partners’ portfolio, comprised of Wakefield Vista Apartments at 105-109 Hopkins Street, Wakefield, and Dover Heights Apartments at 117 Central Street, Acton, was purchased by OBP Partners.
Convenient access via the major thoroughfares of each town, close proximity to the Wakefield and South Acton MBTA commuter rail stations, and strong occupancy elevated the overall allure of the portfolio.
“We have seen tremendous investor appetite for commuter rail-centric, suburban apartment product,” noted senior vice president Christopher Sower. “As Boston rents continue pushing to unprecedented levels, tenants seem to be growing more comfortable within suburban surroundings so long as they remain connected to the City via train.”
The Colliers Multi-Family Investment Sales team on the assignment included Chris Sower, Bruce Lusa, Jonathan Bryant, John Flaherty and Maggie Collins.