The Hamilton Company Purchases
South End City Block for $52 Million
(Allston,
May, 6, 2013) The Hamilton Company today announced that Hamilton Northeast,
LLC, a subsidiary of Hamilton, purchased a 134 unit apartment community from
Boston Land Development. Utilizing its credit facility, Hamilton purchased the
property for $52 million dollars and was financed by Matt Purtell of KeyBank,
N.A. Represented by Sally Michael of Saul Ewing, this purchase
along with 9 other purchases made in the past 3 years total just shy of
$300 million by The Hamilton Company.
“These
well developed, managed and maintained buildings will continue to meet the
moderate priced housing needs of the South End residents and Northeastern
University’s student population. We will be providing the same high
standard of care to which our residents are familiar, “ said Carl A. Valeri,
President of Hamilton .
Comprising
an entire city block in the heart of Northeastern University Campus, the
property at 650 Columbus Avenue consists of a 141 car garage parking, 33
condominium units and 134 apartment rentals all to be managed under one
condominium umbrella.
About The Hamilton
Companies:
The Hamilton Company, Inc, owned by Harold
Brown, is one of the largest privately owned full service real estate
organizations in Massachusetts. It owns and operates in excess of 5,000
apartments and 3 million square feet of commercial property throughout eastern
Mass. Founded in 1954, Hamilton is now operating in its 59th year
and is located in Allston, MA.