Boston, March 9, 2018 - Colliers International’s Multi-Family Investment Sales team just 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 out of Florida. 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.”
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Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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For further information, please contact:Jen Weber
InkHouse for Colliers International, Boston