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Mattapan Multifamily Complex Fetches $65M

By Steve Adams | Banker & Tradesman Staff | Aug 10, 2018 | Reprints | Print

A Waltham real estate investment firm has acquired the Fairlawn Apartments, a 347-unit apartment complex in Boston’s Mattapan neighborhood.

The DSF Group paid $65 million for the property, which includes a dozen 4-story apartment buildings and a single-story leasing office and maintenance shop. Completed between 1965 and 1968, the property includes 14 studios, 143 one-bedroom units, 75 two-bedroom units and 115 two-bedroom, 1.5-bath apartments. Units average 829 square feet.

The acquisition fits into DSF Group’s strategy of acquiring properties near public transit, President Josh Solomon said in a statement. The firm acquired the 195-unit Halstead Malden Square apartment complex at 480 Main St. in Malden Center for nearly $74 million in 2016.

CBRE/New England’s Simon Butler and Biria St. John represented seller ARES Management and procured the buyer for the Mattapan transaction. CBRE’s Brian Eisendraft and John Kelly procured the buyer’s financing.

B&T Daily