Eagle Rock Properties Acquires Multifamily Portfolio In Brighton, Framingham, And Nashua For $500M

Eagle Rock Properties has acquired a multifamily asset in Brighton & Framingham, MA; & Nashua, NH. The property, located at 9 Bronsdon St, 50 Dinsmore Ave, 5 Georgetown Drive, 100 Vantage Terrace & 25 Bay Ridge Drive, consists of 1,314 units. The transaction was facilitated by Melnick Real Estate Advisors, with Scott Melnick representing the buyer. The seller, AIR Communities, completed the sale for a total price of $500,000,000, resulting in a per unit price of $380,518.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $500,000,000
• Units: 1,314
• Price Per Unit: $380,518
• Market: Brighton & Framingham, MA; & Nashua, NH

Scott Melnick from Melnick Real Estate Advisors played a crucial role as the broker in this transaction, representing Eagle Rock Properties. This acquisition marks a significant investment by the buyer in the multifamily market, illustrating their continued focus on expanding their portfolio.