The Wellington Parkside apartments has been acquired by Taurus Investment Holdings from SMC Management in a $56 million transaction. Located at 12 Valley Street in Everett, Massachusetts, the 190 unit, Class A apartment complex was constructed in 2015. Located just 4 miles from downtown Boston the multifamily community changed hands for just over $294,735 per unit. The sale brings Taurus’s overall investment in multifamily product around Boston to over $200 million with approximately 1,230 units.
“We are excited about our recent acquisition,” says Peter Merrigan, CEO of Taurus Investment Holdings. “The combination of major area developments, including Assembly Row, Station Landing, and the future Wynn Casino, coupled with transportation infrastructure providing access to Boston were attractive attributes to the opportunity. With modest property improvements, combined with Taurus management and marketing approach, we believe the property will be well-positioned to take advantage of the positive changes to Everett and the overall dynamics of Boston’s urban-infill submarket.”
