Ray Safi And Bechara Fren Acquire Presidential Estates Multifamily In Quincy For $74M

The property involved in this transaction is a multi-family asset located at 1020 Southern Artery in Quincy, MA. The sale price was $74,000,000.00, and the asset comprises 276 units across a total square footage of 278,826. The apartment complex includes 120 one-bedroom/one-bathroom apartments and 156 two-bedroom/one-bathroom apartments. Notable on-site amenities feature a clubhouse with a full-scale fitness center and a seasonal pool. Its location offers easy access to major routes and nearby attractions.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $74,000,000.00
• Buyer: Ray Safi and Bechara Fren
• Seller: Martin G Stein Tr
• Units: 276
• Square Footage: 278826.0

Dennis Kelleher and John Pentore of Horvath & Tremblay brokered the sale of this property. The transaction marks a significant value-add opportunity in an urban-infill location, making it attractive for the buyers. The proximity to routes 3 and 93 as well as local amenities enhances its appeal.