Colliers Closes Mission Hill Multifamily Transaction
The 32-unit Boston community traded for a little over $300,000 per unit.
By Bogdan Odagescu, Associate Editor
Boston—Colliers International recently closed on the sale of 256 Parker Hill Ave., a 32-unit community in Greater Boston’s Mission Hill neighborhood. The property commanded roughly $9.7 million, or $303,516 per unit.
The Colliers team brokering the transaction on behalf of seller Qianlong Management LLC was spearheaded by Christopher Sower, senior vice president of multifamily investment sales, and included Jen Price, Jonathan Bryant and Maggie Collins. The company also coordinated the financing on behalf of local buyer Tremont Asset Management, with Stephen Horan securing a loan through JP Morgan Chase.
“The strength of the Mission Hill market provided an opportunity for a successful sale,” said Sower in prepared remarks. The community is situated halfway between the Roxbury Crossing and Jackson Square MBTA stations for the Orange Line, being also close to the Mission Park station for the Green Line.
The property is located within a dense residential area, close to several large healthcare centers, top colleges, retail clusters and offering short commutes to and from several Boston employment hubs.
Image courtesy of Colliers International