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Swedish Investor Drops $63M In Brighton, Somerville In Latest Residential Property Grab

Jan 12, 2016 | Reprints | Unlock Link | Print

136 Highland Ave., Somerville

Sweden-based Akelius US recently purchased a 190-unit apartment portfolio spread across Brighton and Somerville.

The portfolio consists of 89 units in Brighton at 4-8-12 Elko St. and 286-288 Chestnut Hill Ave., and 101 units in Somerville’s Spring Hill neighborhood at 123 Highland Ave. and 136-138 Highland Ave.

The buildings were sold on behalf of True North Capital Partners, trading at $63.1 million (or $332,105 per unit). The sale was completed by Boston Realty Advisors’ multifamily investment sales team of Christopher Sower, Jen Price and Maggie Collins.

This is the latest in a series of high-profile purchases in Boston by Akelius, including a South Boston apartment complex, and another in Brighton.

Commercial & Industrial