Osso Capital Purchases Canal District Lofts From Berkeley Investments For $122 Million

The asset involved in this transaction consists of a multifamily property located at 240, 242 & 270 Canal Street in Lawrence, MA. The sale price for this property was $122,000,000, and it comprises 240 units. This translates to a per-unit price of $280,000. The property is notable for its conversion of historic mill buildings into residential apartments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $122,000,000
• Units: 240
• Price Per Unit: $280,000
• Buyer: Olivia John - Osso Capital
• Seller: Young Park - Berkeley Investments

Berkeley Investments sold the Canal District Lofts to Osso Capital, which includes 180 apartments created from the historic mill buildings. This sale is part of a previous acquisition made by Berkeley in 2021, valued at $98.5 million, covering five buildings.