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Avalon Danvers Sold For $108.5M

Jun 30, 2014 | Reprints | Unlock Link | Print

In the year’s largest multifamily transaction in Greater Boston, Waltham-based DSF Group has acquired the 433-unit Avalon Danvers apartment complex for $108.5 million.

The 12-building complex is located at the former Danvers state hospital property and contains a mix of converted buildings dating back to the late 1800s and new construction completed in 2006. The 2001 horror film "Session 9," starring David Caruso, was filmed on the property.

IPA Boston procured the buyer for AvalonBay Communities in the deal, which closed Friday.

DSF Group said it plans extensive renovations and upgraded amenities including a fitness center, yoga studio, virtual golf and boxing studio, movie theater and resident lounge. The property will be renamed Halstead Danvers.

Commercial