Sal Lupoli And Joseph L. Zink Acquire Royal Crest Apartments Multifamily Complex For $254M In North Andover

The Royal Crest Apartments, a multifamily complex located at 50 Royal Crest Drive in North Andover, MA, comprises 588 units and was sold for $254 million. The price per unit (PPU) is calculated at $431,973. This property is situated on a 76-acre site, which is currently providing student housing and is in close proximity to Merrimack College's main campus.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $254,000,000
• Address: 50 Royal Crest Drive
• Market: North Andover, MA
• Units: 588
• Price Per Unit: $431,973

The buyers of the Royal Crest Apartments are Sal Lupoli from Lupoli Companies and Joseph L. Zink from Atlantic Management. They are collaborating with Merrimack College in relation to the property, expanding the student housing options available to the college's community.