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Coolidge Corner Apartments Sold for $74M

Dec 22, 2020 | Reprints | Unlock Link

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A Brookline apartment building anchored by Japanese restaurant FuGaKyu has been acquired by New York-based real estate investor Faistead and Atalaya Capital for $74 million.

The 94-year-old Pelham Hall building at 1284 Beacon St. in Coolidge Corner contains 148 apartments. The seller, 1284 Beacon LLC, is affiliated with Nordblom Co. of Burlington.

In a statement, Fairstead Founding Partner Will Blodgett said the property was attractive because of its historic charm and location on the MBTA Green Line.

Invesco Real Estate furnished a $63 million acquisition loan that was brokered by CBRE Vice Chairman and Partner Simon Butler.

Fairstead has acquired and developed more than $4 billion in multifamily properties since 2014, and now owns nearly 13,000 apartment units in 15 states.

B&T Daily