Private equity giant Blackstone sold an apartment community south of Boston for $143.5 million to a San Francisco investor.
Blackstone acquired the Prynne Hills complex on the Canton-Randolph border in 2018 for $61 million, according to property records. The new owner is a corporate entity affiliated with Friedkin Property Group, a privately-held commercial real estate investor.
The complex was completed in two phases in 2008 and 2013 and contains a total of 472 apartments. The sales price equates to $304,000 per unit.
The complex’s web site currently lists one-bedroom units starting at monthly rents of $2,569.
Blackstone owns over $331 billion in real estate assets globally and currently has $66 billion available to invest in the sector, executives recently said in discussions of the company’s third-quarter earnings. In June, Blackstone surpassed $1 billion in assets, and the company raised over $25 billion in the third quarter across all of its asset classes.