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True North Affiliate Buys Boston Apartments For $21.3M

By James Cronin | Banker & Tradesman Staff | Nov 7, 2013 | Reprints | Print

AvenuesPortfolio The Avenues Group LLC, an affiliate of True North Capital Partners, has purchased 116 apartment units in Boston and Somerville for $21.25 million.

The buildings at 136-138 Highland Ave. in Somerville and 286-288 Chestnut Hill Ave. in Boston were sold by Chestnut/Highland LLC.

CBRE/New England’s multifamily experts Simon Butler and Biria St. John represented the seller and procured the buyer of the apartment portfolio.

The Somerville property comprises 66 units in two four-story buildings originally erected in the 1920s. The 50 Boston apartments are in two attached, four-story apartment buildings, also originally built in the 1920s.

Commercial & Industrial