Boston Residential Group LLC has sold Olmsted Place apartment complex in Jamaica Plain.

Greensboro, North Carolina-based Bell Partners purchased the 196-unit property for $103.25 million.

Completed in 2015, the complex is fully leased. Managing partner Boston Residential developed the complex at the former Home for Little Wanderers at 161 South Huntington Ave. in a joint venture with The Carlyle Group. Boston Residential Group purchased the site for $10 million in 2012 from the nonprofit group, which developed a new headquarters in Walpole.

The apartments opened in 2015 and are fully leased. Units range from 530 to 1,300 square feet.

Designed by architects ADD Inc., which now are owned by Stantec, the building includes a 2-story glass lobby overlooking the Emerald Necklace. Amenities include an outdoor pool, coffee lounge, fitness center, private dining room and full-service concierge. The building earned a LEED Silver rating for sustainability from the U.S. Building Council.

“We are thrilled to have provided a win for our partnership and for the city of Boston in terms of creating middle-class housing in a community that has long needed it,” Boston Residential Group CEO Curtis R. Kemeny said in a statement.

JP Apartment Complex Sold For $103M

by Banker & Tradesman time to read: 1 min
0