Akelius US LLC has acquired the Forest Court Apartments in Cambridge for $49 million from Forest Street Management of Boston.

The purchase price is over $398,000 per unit. The 123-unit complex near Porter Square includes on-site property management, private parking and indoor bike storage.

Nixon Peabody Partner Chris Froeb and Associate Christina Ricotta represented Akelius in the transaction.

Stockholm, Sweden-based Akelius has identified Greater Boston as one of its key expansion markets, opening a Boston office in March 2015. It made its first Cambridge acquisition in January, buying a 68-unit apartment building at 334 Harvard St. for $28.5 million. It previously acquired the West Square and Westside Crossing complexes in South Boston for $169 million and apartment complexes in Brighton and Somerville. Akelius owns more than 50,000 multifamily units in seven countries.

Editor’s Note: This article was updated on Oct. 5 to correct the spelling of Christina Ricotta’s name.