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BlackRock Realty Advisors Acquires Alta Oxbow Senior Community In Wayland For $98M From Wood Partners

Property Image
SOLD
$98,000,000

Massachusetts

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MultiFamily
Sold 08/23/2024
the dealdetailscomps
Property Image
SOLD

BlackRock Realty Advisors Acquires Alta Oxbow Senior Community In Wayland For $98M From Wood Partners

495 Boston Post Road

See Similar Deals
MultiFamily
Sold 08/23/2024
the dealdetailscomps

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

The property sold is a senior housing complex located at 495 Boston Post Road in Wayland, MA. The asset sold for $98,000,000 and is recognized as the only Class A apartment project in the area. There is no new supply expected until 2027 or later, highlighting its market position amid existing controversies regarding rent increases for affordable units.

Summary of transation details:

  • Property Type: Senior Housing
  • Transaction Amount: $98,000,000
  • Buyer: BlackRock Realty Advisors
  • Seller: Joseph Keough - Wood Partners
  • Broker: Berkadia

The acquisition sees BlackRock Realty Advisors purchasing the Alta Oxbow senior community from Wood Partners, represented in the transaction by Joseph Keough. This transaction reflects a significant interest in senior housing assets amidst local market dynamics.

Details

SOLD
IMAGE: Joseph Keough DATE: 08/23/2024 ADDRESS: 495 Boston Post Road MARKET: Wayland, MA ASSET TYPE: Senior Housing BUYER: BlackRock Realty Advisors SELLER: Joseph Keough - Wood Partners BROKER: Berkadia (@Berkadia) SALE PRICE: $98,000,000 NOTE: BlackRock Realty Advisors acquired the Alta Oxbow senior community in Wayland for $98M from developer Wood Partners. The complex, which faced controversy over a proposed 24% rent increase for affordable units, is the only Class A apartment project in Wayland, with no new supply expected until 2027 or later.

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