TWO MULTIFAMILY PORTFOLIOS TRADE FOR $50.9 MILLION

BOSTON, LAWRENCE AND CAMBRIDGE, MASS. — Two Massachusetts multifamily portfolios have been disposed of for a total of $50.9 million. The first portfolio, known as the Riverside Management Portfolio, traded for $44 million. It contains three properties, two of which are located in Boston and one that is located in Lawrence, totaling 414 units. Robert Griffin, Jr., Simon Butler and Biria St. John of the Capital Markets Group of Cushman & Wakefield of Massachusetts (C&W) represented the undisclosed seller and procured the buyer, OMNI America, which is an affiliate of OMNI New York. In the second transaction, the trio, along with C&W’s Chris Sower, completed the $6.9 million sale of the Charles River Portfolio, which comprises 38 units spread throughout 11 buildings in Cambridge. Of the units, 30 are located on seven contiguous parcels along Banks and Elmer Streets; five units are located in three separate buildings on Putnam Avenue and Andrew Street; and three units are located on Maple Avenue. C&W represented the undisclosed seller and procured the buyer, Longfellow Apartments LLC.