|Number of units||114|
Jones Lang LaSalle (“JLL”) has been exclusively retained to market the East Boston Blue Line Portfolio, (the “Portfolio”), a 36-building, transit-oriented apartment portfolio containing 114 units located in the East Boston neighborhood of Boston, Massachusetts. From 2014-2015, the Sponsor individually acquired the assets and underwent a specific value-enhancement program. Currently, 98% leased, The Portfolio offers investors significant value-add upside through in-unit finishes and the potential for additional density. The entirety of the Portfolio spans across a 2.5-mile distance in East Boston, offering investors immediate scale in a popular Boston neighborhood.
Residents benefit from the proximity to downtown Boston as well as easy access to Boston’s numerous universities all at a 30% discount to downtown rents. Residents also benefit from a walkable neighborhood with convenient transit access via the MBTA Blue Line. As tightening market conditions continue to price renters out of the urban core, East Boston has emerged as a logical value alternative for young professionals, families, and students, offering a $1,000/unit per month discount to downtown Boston alternatives, despite being only 5 minutes away. Rarely is there an opportunity in Boston that offers a similar scale and the ability to increase rents through value-add renovations.
· 36 Multi-Family Properties located in East Boston
· 114 units
· 337 Beds
· Value Add Upside
· Transit Oriented
· Discount Relative to Replacement Cost