BEVERLY, Mass.— Foxfield announced that it has completed the sale of 50 Broadway, a 45-unit apartment community located in downtown Beverly and one of three assets in the firm’s Beverly Residential Portfolio. The sale represents a significant milestone as Foxfield continues to execute its value-creation strategy across the remaining properties.
Foxfield originally acquired 50 Broadway in 2021 in partnership with Taymil Partners as part of a broader effort to assemble a high-quality multifamily portfolio in Beverly. The property’s central location places residents steps from downtown retail and outdoor amenities and directly adjacent to the Beverly Depot MBTA Commuter Rail Station. Its proximity to the Route 128 employment corridor and ease of access to Boston and surrounding job centers have made it a consistently attractive option for renters seeking strong connectivity.
Alongside the sale, Foxfield has completed a successful refinancing of the two remaining buildings in the portfolio—Enterprise and Burnham—which together total 83 units. The dual milestones underscore the venture’s ongoing progress as the team remains focused on maximizing value across its Beverly holdings.
“The sale of 50 Broadway reflects the success of our strategy to invest in well-located multifamily assets that bring long-term value to residents and investors alike,” said Shawn Hawthorne, Partner at Foxfield. “This market has performed very well from the day we acquired these assets. We are proud of the results achieved through our partnership with Taymil and remain focused on advancing the strong performance of the remaining Beverly buildings.”
The transaction was facilitated by Kevin Gleason and Henry Smith of Walker & Dunlop.
