Image courtesy of Procopio Cos.

A luxury high-rise that became a landmark of Gateway City Lynn’s downtown revitalization efforts has been acquired by Portland, Oregon-based Green Cities Co. for $123.5 million.

The 10-story Caldwell apartment tower contains 259 market-rate units on a former parking lot next to the MBTA commuter rail’s Lynn station. The purchase price equates to nearly $477,000 per unit.

Lynnfield-based Procopio Cos. acquired the property for $3 million in 2018 after Lynn officials approved new zoning for 10-story downtown building heights, and positioned the property as a discount to Boston rents for commuters. Carlyle Group partnered on the project which broke ground in 2018 and was completed this past spring.

Equipped with high-end touches including a roof pool deck, the complex currently lists one-bedroom units starting at  $1,825 per month.

“The Green Cities Company was a natural choice with its focus on sustainability and commitment to building up the local community through partnership. Procopio remains invested in the city of Lynn and looks forward to welcoming residents at Mosaic, our next project in Lynn, in 2022,” CEO Michael Procopio said in a statement.

Originally known as Gerding Edlen, the new owner rebranded as The Green Cities Co. in February following a corporate reorganization. The company’s local properties include the Bower complex in Boston’s Fenway, Factory 63 and 315 on A in Fort Point, Troy Boston in South End, The Eddy in East Boston and Neponset Landing in Quincy.