Carson Tower, a 153 unit high rise apartment community located in Boston, has been sold to an affiliate of Akelius US for $64.25 million. The asset was built in 1973 and is comprised of a single high-rise apartment building located directly on Carson Beach. The community consists of 153 apartments containing 58 one-bedroom, 81 two-bedroom and 14 three-bedroom units with an average size of 763 sqf. CBRE/NE multi-housing experts Simon Butler and Biria St. John exclusively represented the seller, a joint venture between Fairfield Residential and an institutional partner.
“The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer an opportunity to add value through upgrades to both the apartment homes and the common areas, as well as acquire the asset at a significant discount to today’s replacement costs,” said CBRE/NE’s Biria St. John.
