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Criterion Sells Alewife Apartments for $175M

By Steve Adams | Banker & Tradesman Staff | Oct 13, 2021 | Reprints | Unlock Link

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Image courtesy of Criterion Development Partners

Criterion Development Partners has pocketed $174.6 million from the sale of a 320-unit apartment complex near the MBTA’s Alewife Station.

The buyer is an affiliate of Boston-based Eaton Vance Management, according to a Middlesex County Registry of Deeds filing.

The sales price equates to over $545,000 per unit. Located at 195-211 Concord Turnpike, the project was built on the former site of the Lanes & Games bowling alley and Gateway Inn hotel.

The two-building, six-story complex spans 324,440 square feet and contains an 8,000-square-foot amenity space, including a game room and two-lane bowling alley.

B&T Daily