Bridgewater-based Claremont Companies sold a 176-unit apartment complex in Hudson to an institutional investor for $67 million.
Zurich Alternative Asset Management (ZAAM) of New York acquired the Matrix. Completed in 2017 on a 15-acre parcel, the three-building complex contains a mix of one- and two-bedroom apartments with average sizes of 1,006 square feet.
The purchase price works out to $380,682 per unit. The complex currently lists one-bedroom units starting at $2,350.
The ZAAM fund invests on behalf of third-party investors.
“The combination of asset quality, local demand drivers, and supply constraints made this a very attractive investment for us,” ZAAM Executive Director of Acquisitions Chris Edgar said in a statement.
CBRE represented the sellers. The property previously traded for $55 million in 2022.