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Dec

04

New Boston Fund Sells $145M Multifamily Asset

By Tony Seruga

With the help of HFF, the company sold the 21-story Tower at One Greenway to PGIM Real Estate for more than $660,000 per unit.

Just two years after completing development of The Tower at One Greenway, New Boston Fund has sold the 217-unit luxury rental community in downtown Boston for $144.5 million, or more than $660,000 per unit. The real estate investment manager relied on the assistance of HFF to sell the trophy property, which was purchased by PGIM Real Estate, according to Suffolk County records.

New Boston Fund completed development of One Greenway, rising 21 floors on the former Parcel 24 site at 99 Kneeland St., in 2015, delivering 217 residences to the ever-thirsty Boston apartment market. The building offers the typical amenities luxury-apartment renters have come to expect and then some, including a yoga studio, dog wash and electric car charging stations…

New Boston Fund Sells $145M Multifamily Asset

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