B
oston-based CBRE representatives Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler announced the sale of Joy Realty Portfolio, a 284-unit apartment portfolio in Boston's Fenway and Longwood Medical neighborhoods through two separate transactions.
CBRE exclusively represented the private family seller who had owned some assets for over 100 years, marking the first time the portfolio has been sold. The buyers were procured by CBRE: an affiliate of Cambridge-based Forest Properties acquired 222 units across five buildings, while another undisclosed buyer purchased 62 units in two separate properties.
The eight-building portfolio features a mix of studios to four-bedroom apartments averaging 550 square feet, with most buildings being four or five stories and elevator-accessible. The locations are highly walkable, offering proximity to employment, universities, hospitals, public transportation, and local amenities.
