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n a strategic move, Rockpoint, a Boston-based real estate private equity firm, has acquired Altitude Apartments, a thriving multifamily community in Malden, Massachusetts. This acquisition marks another milestone for Rockpoint's extensive residential portfolio, solidifying its position as a leader in the industry.

    Located just nine miles north of downtown Boston, Altitude Apartments boasts 41 acres and 919 rental units across 13 buildings, totaling 884,368 rentable square feet. Residents can enjoy modern interiors with open floor plans, high-end appliances, and newly renovated kitchens and bathrooms. The property's prime location offers easy access to local markets, shopping centers, dining options, and on-site MBTA bus service.

    "We're thrilled to add Altitude Apartments to our portfolio," said Tom Gilbane, Managing Member and Co-President at Rockpoint. "Greater Boston's strong economic fundamentals drive demand for high-quality housing, making this acquisition a strategic fit."

    Metropolitan Properties, the property's owner and operator, will continue to manage Altitude Apartments under the new partnership with Rockpoint. Greg Cohen, Chief Investment Officer at Metropolitan Properties, emphasized the strength of their collaboration: "This partnership positions us for further expansion in the market while maintaining our commitment to providing an exceptional living experience for residents."

    Altitude Apartments offers a range of resort-style amenities, including a fitness center, yoga studio, swimming pool, and community spaces. The property's landscaped grounds feature a duck pond, walking paths, playground, and ample parking.

    "Altitude provides the perfect blend of relaxation and convenience," said Fred Borges, Senior Managing Director at Rockpoint. "We look forward to enhancing the resident experience and driving long-term success for this exceptional community."

    With over 25 years of residential investments under its belt, Rockpoint has established a strong track record in multifamily and single-family rental properties. Since 1995, the firm has completed 135 residential investments, totaling approximately 95,000 multifamily units and 16,000 rental homes.