July 28, 2017 Comments Off on Bell Buys Lux Boston MF for $103M Views: 1043 Massachusetts, National News, Northeast

Bell Buys Lux Boston MF for $103M

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Boston Residential Group LLC sold Olmsted Place, a five-story, 196-unit apartment complex in Boston’s Jamaica Plain to North Carolina-based Bell Partners, Inc. for $103 million. The property was developed in 2015 in joint venture between Boston Residential and a unit of Washington, D.C.-based The Carlyle Group.

Boston Residential Group’s Curtis R. Kemeny noted the project “created a win for our partnership and for the City of Boston, by creating middle class housing in a community that has long needed it.”

Olmsted Place was the first new residential project in a rapidly improving section of Jamaica Plain in several decades. It features studios, one-, two-, and three-bedroom units. The property on South Huntington Avenue overlooks Jamaica Pond, part of the Emerald Necklace park system, designed by Frederick Law Olmsted. The community will be renamed Bell Olmsted Park and managed by Bell Partners.

Read more at Business Wire

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