BOSTON–COPA Real Estate Investments, LLC announced the acquisition of Webster Village, a luxury boutique apartment complex in the Boston South Shore submarket of Hanover, MA in partnership with Long Wharf Capital (“LWC”).
Completed in 2017, the Property consists of 76 one- and two-bedroom units in two elevatored buildings with a full-time management team, fitness center, oversized resident club rooms with kitchen and a game area, and well-appointed landscaped grounds. Following the acquisition, the property will be rebranded as Webster Woods, reflecting the private, boutique, and nature-focused themes of COPA’s investment strategy. The property will be managed by John M. Corcoran & Company.
According to COPA Principals Phillip Bakalchuk and Ed Olchowicz, “We are very excited to close on Webster Village as our second acquisition under the COPA umbrella. The South Shore is a submarket that we have long targeted with the Town of Hanover offering top-rated schools, strong local demographics, commuter line and highway accessibility to Boston, and an abundance of nearby high-quality retail and professional services. We plan to begin introducing select common area enhancements and premium unit upgrades over the coming months, including a reconfigured management office, outdoor kitchen and fire pit amenity, and a dog park. Furthermore, our strategy also contemplates the installation of rooftop solar as a means of reducing the property’s carbon footprint and offsetting ever-increasing electric expenses”.
“Long Wharf Capital brings significant expertise and resources to this project, and COPA looks forward to working together on future projects to deliver quality investment results,” they added.
