Boston-based Marcus Partners is looking to South Boston and Roslindale for multifamily investment opportunities with its $35.8-million acquisition of a 107-unit portfolio.
The transactions include 1943 Dorchester Ave. in South Boston and 4236 Washington St. in Roslindale, both of which will be owned and managed in a joint venture with Braintree-based John M. Corcoran & Co.
The transactions, acquired as the final investments in Marcus Capital Partners Fund II, are the firm’s first in the Boston urban core. The properties provide an alternative to higher-priced downtown apartments among renters seeking to live in newer class A buildings, Marcus Partners said in a statement.
“Rising construction costs that are making new construction more difficult to pencil, combined with continued job growth that is further driving demand, has created an attractive supply/demand dynamic for owners of apartment buildings in our market,” Ryan McDonough, Marcus Partners’ Boston regional director, said in a statement.
Marcus Partners and Corcoran Jennison’s first partnership was the 237-unit Residences at 1500 Main St. in Weymouth, which is scheduled for completion in October.