Jones St. Investment Partners bought East Main Apartments in Norton, Massachusetts, for $53.7m. Completed in 2017, the 188-unit property was sold and developed by a joint venture between Campanelli and Thorndike Development. JLL brokered the deal.
“Boston is one of the most stable multifamily markets in the country due to its diverse economy, highly educated population and stringent development controls,” said Travis D’Amato, managing director of the capital markets team at JLL. “As a result, multifamily product in Boston and the surrounding area boast stable occupancy and consistent rent growth, both of which are highly attractive for investors.”
