Local investor Ezzi Property Group acquires 53-unit Class A community in Hyannis, marking the highest multifamily sale price in the Cape Cod submarket in the past year.
HYANNIS, Mass. — A newly built apartment community in Hyannis has sold for $19.3 million, setting a new pricing benchmark for multifamily property sales on Cape Cod over the past year, according to commercial real estate investment firm Matthews.
The Residence at 850, located at 850 Falmouth Road, was sold by Standard Holdings LLC to Ezzi Property Group, led by local investor Marc Abou-Ezzi. Matthews represented the seller in the transaction, with Vice President Nick Jasinski facilitating the sale.
According to data compiled by Matthews from CoStar Group Inc., the $19.3 million transaction represents the highest sale price for a multifamily property in the Cape Cod submarket in the past 12 months.
Standard Holdings developed the property in 2023 and brought it to market to capitalize on its investment. Despite economic uncertainty, concerns over rent control and changes in property management, Jasinski executed a targeted marketing strategy that emphasized the property’s stabilized performance and its position in Cape Cod’s supply-constrained rental housing market.
The buyer was identified directly by Jasinski as part of the effort to match the property with an investor seeking to expand a multifamily portfolio on the Cape. Ezzi Property Group was attracted to the community’s modern construction, established operating performance and long-term investment potential.
“We’re very excited to get this one over the finish line after years of persistence and hard work,” Jasinski said. He noted that the transaction allowed the seller to realize its investment while connecting the property with a buyer positioned to carry it forward.
According to Jasinski, Ezzi Property Group plans to manage the property directly and continue providing rental housing in a market where comparable multifamily assets are relatively scarce.
The Residence at 850 is a three-story, Class A apartment community comprising 53 units, including nine one-bedroom apartments and 44 two-bedroom apartments. Its residential features include modern interiors, stainless steel appliances and in-unit laundry.
The property also offers a fitness center, resident lounge and outdoor gathering spaces. Its location along Route 28 provides access to shopping, restaurants, Cape Cod Hospital and ferry services connecting the region with Martha’s Vineyard and Nantucket.
The sale highlights investor interest in recently constructed multifamily properties in Cape Cod, where limited housing supply can make larger apartment communities particularly attractive to buyers seeking established rental operations and long-term investment opportunities.
For Standard Holdings, the transaction provides an opportunity to monetize a development completed in 2023. For Ezzi Property Group, the acquisition expands its presence in the regional multifamily market and adds a 53-unit community to its portfolio.
Matthews, headquartered in Nashville, Tennessee, provides commercial real estate investment services, including investment sales, leasing, debt and structured finance. The firm operates through a network of more than 1,000 agents and employees across 30 offices nationwide.
