An affiliate of Taurus Investments Holdings of Boston has picked up a multifamily community in Fall River, Massachusetts, for $39.35 million. The property, South Winds, is a 404 unit apartment complex that was built in 1971. Changing hands for just over $97,400 per unit, the property is comprised of 26 three-story garden style buildings that offer an average unit size of 1,0008 sqf. The community is located just off North Main Street in Fall River and offers easy access to Route 24. CBRE/New England’s Capital Markets team represented both the seller and the buyer. The acquisition of South Winds Apartments represents Taurus’ fourth Boston-area multifamily investment since 2013.
“We are pleased to have facilitated the sale of South Winds on behalf of our client who had owned the community since 2000 as part of a larger portfolio acquisition,” said CBRE/NE’s Simon Butler. “The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer strong yields on a good forward basis and the potential for a value-add execution.”
