The Second Avenue Group LLC, an affiliate of True North Capital Partners, has purchased the Brickview Portfolio, which includes two apartment communities in Somerville and Brighton, for $16.85 million.
The 35-unit Somerville property is located at 121-123 Highland Ave., and consists of one detached four-story apartment building originally built in the 1930s. The apartment mix is comprised of four studio apartments, 22 one-bedroom apartments and nine two-bedroom apartments with an average unit size of 646 square feet. The property is located between Davis Square, Porter Square and Union Square.
The Brighton property, located 4-8-12 Elko St., consists of 39 units in three attached three-story apartment buildings originally built in the 1920s, which have since been renovated. The unit mix is comprised of 23 one-bedroom apartments and 16 two-bedroom apartments, with an average unit size of 655 square feet. The buildings are located on the corner of Cambridge Street, adjacent to St. Elizabeth’s Medical Center.
CBRE/NE’s Simon Butler, executive vice president and partner, and Biria St. John, executive vice president and partner, represented the seller and procured the buyer.
