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The acquisition of a Hudson apartment complex near Interstate 495 brought a Los Angeles multifamily developer’s Massachusetts portfolio to 647 units.

TruAmerica acquired the 158-unit Highlands at Hudson complex at 307 Central St. for $39.5 million from Jefferson Apartment Group

The purchase price works out to $250,000 per unit.

Jefferson Apartment Group paid $33.5 million for the property in 2020, according to data compiled by The Warren Group, publisher of Banker & Tradesman.

Highlands at Hudson is TruAmerica’s fourth property in the Bay State, following the acquisitions of the Preserve at Cohasset, Lux at Stoughton and Marquee at Andover properties.

TruAmerica had nearly $16 billion in assets under management as of March 31, 2023.

The Hudson property spans 12 acres and was approved under the Chapter 40B affordable housing law, with 25 percent of the apartments reserved for households earning 80 percent or less of area median income.