Boston Luxury Community Trades for $43M
- Aug 09, 2018
A joint venture between Grossman Cos. and The Waypoint Cos. has sold Trac 75, an 80-unit luxury community in Boston, to a private family office. Colliers International brokered the $42.5 million transaction. The new owners retained Dolben to manage the property.
The asset is located at 75 Braintree St., roughly 5 miles east of downtown Boston and has a WalkScore of 91. The property is adjacent to Interstate 90 and a five-minute walk from Boston Landing MBTA Commuter Rail Station.
Trac 75 comprises a mix of studio, one- to three-bedroom apartments. According to Yardi Matrix data, the community was completed in 2017. Large-scale developments in the area, such as Boston Landing and Harvard University’s Lower Allston campus expansion, fuel and sustain residential property demand in Allston.
Senior Vice President Christopher Sower led the Colliers International team, which also included Vice President Bruce Lusa, Assistant Vice President Jonathan Bryant, Associate John Flaherty and Senior Client Services Specialist Maggie Collins.
Image courtesy of Colliers International