Boston-based Taurus Investment Holdings has acquired South Winds, a 404-unit apartment complex in Fall River, for $39.4 million.

The seller was GPT-RG Fall River LLC, an affiliate of Chicago-based Equity Residential.

CBRE/New England’s debt and structured finance experts John Kelly and Matt Marshall arranged $31.5 million in Fannie Mae financing for the acquisition. The purchase price is $97,400 per unit.

Built in 1971, the garden-style complex at 4594 North Main St. contains 146 one-bedroom/one-bathroom, 218 two-bedroom/one-bathroom and 40 three-bedroom/two-bathroom units. The average unit size is 1,008 square feet.

“With this being our first acquisition using Fannie Mae financing, we were very pleased with the speed and overall execution by CBRE on the financing of this transaction,” Taurus CEO Peter Merrigan said in a statement. “We look forward to successfully adding value to this asset through our planned capital improvement strategy and efficient management.”

Taurus Acquires Fall River Complex For $39.4M

by Banker & Tradesman time to read: 1 min
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