Real Estate
Home›Real Estate›Industry›Bell Partners buys 204-unit Reading Commons for $96M
Bell Partners buys 204-unit Reading Commons for $96M
The Greater Boston acquisition, completed in 2006 and 30 minutes from Boston, expands Bell Partners’ local portfolio to 1,461 units across six communities.
Bell Partners has acquired Reading Commons, a 204-unit multifamily property in the Greater Boston area, for $96M, according to an Aug. 3 deed reviewed by Bisnow.
The seller was an entity linked to J.P. Morgan Asset Management. Bell Partners bought the building through its Bell Value-Add Fund VIII, and the property was completed in 2006. The deal brings the firm’s Greater Boston portfolio to six communities with 1,461 units, covering properties it owns or manages.
In other Massachusetts real estate activity covered by Bisnow, Advanced metal manufacturer Foundation Alloy signed a 36,000-square-foot lease at Camber Development and Wheelock Street Capital’s 45 Industrial Parkway in Woburn. Cushman & Wakefield represented the tenant, and JLL represented the landlords.
Bisnow also reported that New Mountain Capital secured a $47M loan for its 68-78 Elm St advanced manufacturing property in Hopkinton, while Invictus Real Estate Partners obtained a $67M refinance for the 194-unit Eliot on Ocean apartment complex in Revere Beach.