BOSTON – Rockpoint, a Boston-based real estate private equity firm, has acquired Altitude Apartments, a premier multifamily residential community in Malden, Massachusetts.
The acquisition, completed in partnership with Metropolitan Properties, marks another addition to Rockpoint’s extensive residential investment portfolio. Financial details of the transaction were not disclosed.
Located just nine miles north of downtown Boston, Altitude Apartments spans 41 acres and features 919 rental units across 13 buildings, totaling 884,368 rentable square feet. The community offers a mix of one-, two-, and three-bedroom apartments with modern interiors, including open floor plans, high-end appliances, and newly renovated kitchens and bathrooms. Residents also benefit from the property’s proximity to local markets, shopping centers, dining options, and on-site MBTA bus service for direct access to Greater Boston.
“We are excited to add Altitude Apartments to our extensive residential portfolio,” said Tom Gilbane, Managing Member and Co-President at Rockpoint. “Greater Boston’s strong economic fundamentals continue to drive demand for high-quality housing, and this acquisition aligns with our strategy of investing in attractive markets we know well.”
Metropolitan Properties, which will continue as the property’s owner and operator, emphasized the strength of the new partnership. “We are excited to partner with Rockpoint and continue our commitment to providing a high-quality living experience for Altitude residents,” said Greg Cohen, Chief Investment Officer at Metropolitan Properties. “This partnership positions both firms for further expansion in the market.”
Altitude Apartments offers a range of resort-style amenities, including a fitness center and yoga studio, swimming pool, community and theater rooms, as well as basketball and tennis courts. The property’s landscaped grounds feature a duck pond, walking paths, a playground, and ample parking.
“Altitude offers residents the best of both worlds—expansive, relaxing spaces with convenient access to downtown Boston,” said Fred Borges, Senior Managing Director at Rockpoint. “We look forward to enhancing the resident experience and positioning the community for long-term success.”
Rockpoint has a strong history of residential investments, with a focus on multifamily and single-family rental properties. Since 1995, the firm has completed 135 residential investments, totaling approximately 95,000 multifamily units and 16,000 rental homes.
