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Brighton Multifamily Portfolio Sold in 1031 Exchange

Jun 4, 2020 | Reprints | Unlock Link | Print

A Brookline developer has sold a 13-unit multifamily portfolio in Brighton for $6 million to reinvest in acquisitions in other submarkets.

Newman Properties completed the sale of 25, 29 and 37 Dighton St. in a 1031 exchange to 25-29-37 Dighton LLC of Lexington.

Aurel Garban of Unlimited Sotheby’s International Realty represented the buyer in the sale.

Newman Properties acquired the Dighton Street properties in 2004 for $2 million.

In a statement, CEO Matthew Newman said the company plans to use the proceeds to acquire properties in East Boston, South Boston and the South Shore. The firm owns and manages more than 500 multifamily units in eastern Massachusetts.

B&T Daily