A subsidiary of TIAA paid $102.5 million for a 250-unit Jamaica Plain apartment complex completed in 2022, according to public records.
The seller was Criterion Development Partners, which broke ground on the 235,000-square-foot Residences at Forest Hills Station in 2018. The complex has since been rebranded as Velo Forest Hills.
The purchase price works out to $410,000 per unit.
The 2-acre property at 3686 Washington St. also includes 4,070 square feet of retail space and 140 parking spaces, according to Boston Planning & Development Agency documents.
The buyer, Nuveen Alternatives Advisors, is a subsidiary of Teachers Insurance and Annuity Association of America.