Swedish multifamily investor Akelius US LLC has acquired its sixth multifamily portfolio in Greater Boston and its first in Cambridge.
The company on Jan. 7 bought the 68-unit apartment building at 334 Harvard St. between Harvard and Central Squares for $28.5 million, or $419,118 per unit. Boston Realty Advisors’ Christopher Sower, Jen Price and Maggie Collins brokered the off-market transaction on behalf of seller 334 Harvard St. LLC.
Built in 1965, the building features a combination of studio, 1- and 2-bedroom units with central elevator, underground parking and select units with patios and city views.
After breaking into the U.S. multifamily market with acquisitions in the New York region, Akelius set its sights on Greater Boston and paid $169 million in October for the 255-unit West Square and 24-unit Westwide Crossing complexes in South Boston.
Since then it’s acquired the 32-unit apartment building at 31-35 South St. in Brighton for $13.6 million and a 190-unit portfolio in Brighton and Somerville for $63.1 million.
Akelius is focusing on Boston, New York and Washington, D.C. as the markets with the most growth potential in the U.S., regional vice president Chad Perrone told Banker & Tradesman. In Boston, the company is looking at multifamily properties outside the urban core.
Tags: Capital Markets, Multi-Family