Monogram Expands MA Footprint With Boston Buy

The company acquired The Washingtons, a 182-unit community in Melrose, Mass. JLL’s capital markets team brokered the deal.
The Washingtons, Melrose, Mass.

The Washingtons, Melrose, Mass.

Monogram Residential Trust acquired The Washingtons, a 182-unit community in Melrose, Mass., from Wood Partners. The property is Monogram’s sixth in the state. JLL mediated the sale.

The transit-oriented community, located at 2 and 37 Washington St., provides easy access to downtown Boston. Units feature top-of-the-line finishes including modern grey granite countertops, GE Stainless Steel appliances and kitchen islands in select homes. Residents benefit from common amenities such as a rooftop deck with outdoor seating, two courtyards, a dog park and a resident lounge with a kitchen and bar.

Managing Directors Travis D’Amato and Michael Coyne, along with Vice Presidents Brendan Shields and Kevin Gleason led the JLL team that brokered the transaction.

“This luxury rental community offers everything today’s core buyer is looking for, including being a short walk away from the MBTA Orange line,” D’Amato said in prepared remarks.

Earlier this year, Monogram Residential, which operates and develops luxury communities, was purchased by a Greystar Real Estate Partners fund in a $3 billion deal.

Image courtesy of JLL