Photo courtesy of Boylston Properties

Arsenal Yards developer Boylston Properties acquired an 11-acre cluster of commercial properties in Wellesley from longtime owners and announced plans to refresh the buildings to attract new tenants.

The $46 million acquisition includes properties on Washington and River streets in the Lower Falls neighborhood.

In a statement, Boylston Properties Founding Principal Bill McQuillan said the company will “approach this investment with a long-term perspective and a commitment to working with our new tenants and the broader community.”

The Boston-based developer plans to upgrade the office buildings’ exteriors and landscaping, and update interiors to create a “cohesive, welcoming campus,” according to an announcement.

The property currently has available office space ranging from 200 to 8,600 square feet.

Boylston Properties’ retail portfolio includes three properties on Highland Avenue in Needham and its 1 million square-foot Arsenal Yards development in Watertown.

The transaction is the second in the past year passing longtime family-owned Wellesley commercial properties to new ownership. Quincy-based Jumbo Capital acquired the Taylor Block in Wellesley Square last October for $15.25 million.