January 12, 2021
Colliers International has arranged the $23 million sale of a five-building, 76-unit multifamily portfolio in Somerville and Medford, MA. Christopher Sower, Bruce Lusa, Jonathan Bryant, John Flaherty, and Kevin Jones of Colliers represented the seller in the transaction, a private family that had owned the properties since the 1970’s. The buyer was The Grossman Cos.
The portfolio included Sherborn Court Apartments in Medford and 124 Summer Street in Somerville. The Somerville and Medford multifamily portfolio is situated across the Winter Hill and Spring Hill neighborhoods, two rapidly evolving residential neighborhoods in greater Boston.
“Somerville and Medford are poised for significant growth in the coming years. With the Green Line coming to the neighborhoods, extensive lab development, and proximity to Boston amenities, these communities are fit to attract a robust group of residents,” said Sower. “We were pleased to work with the family and the Grossman Company on the successful sale of this portfolio.”
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