Akelius US LLC has paid $64.25 million to acquire Carson Tower, a 153-unit apartment tower on Columbia Road in South Boston.

The Stockholm, Sweden-based real estate company has identified Boston and its inner-ring suburbs as one of its key U.S. growth markets. Akelius now owns 11 properties in the region.

Nixon Peabody’s Christopher Froeb and Christina Ricotta served as legal counsel in the acquisition from Fairfield Bay Tower LP, an affiliate of San Diego-based Fairfield Residential. CBRE/New England’s Simon Butler and Biria St. John represented the sellers.

“The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer an opportunity to add value through upgrades to both the apartment homes and the common areas, as well as acquire the asset at a significant discount to today’s replacement costs in the dynamic South Boston neighborhood,” St. John said in a statement.

Akelius owns more than 50,000 apartments worldwide and has paid over $1 billion to acquire 28 properties in the U.S. since 2015, including the $49 million acquisition of Forest Court apartments in Cambridge, the $169 million acquisition of the West Square and West Side Crossing apartment complexes in South Boston, the South Street apartments in Brighton and portfolios in Brighton and Cambridge.

Swedish Investor Pays $64.25M For South Boston Apartment Tower

by Banker & Tradesman time to read: 1 min
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