Photo courtesy of JLL

The Bulfinch Crossing development’s high-rise luxury tower has a new investor following a year-long marketing process.

San Francisco Carmel Partners joined ownership of the Sudbury, a 46-story apartment and condominium building at the former Government Center garage property, after paying $43 million to an affiliate of National Real Estate Advisors, according to a deed filed March 1 in Suffolk County.

JLL represented The Sudbury’s developers HYM Investment Group and National Real Estate Advisors in the transaction.

Completed in 2020, the 368-unit rental portion of the Sudbury was expected to sell for up to $300 million when it was placed on the market in early 2023.

Multifamily investment sales activity has dropped in the past year following a series of interest rate increases.

What else is on tap today?

Show me the data!

This is how the number of single-family home loans has changed each month.

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Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.

The B&T Daily: March 5, 2024

by Cassidy Norton time to read: 2 min