Berkadia Completes $27.15 Million Sale of Multifamily Property in Massachusetts
BOSTON – October 5, 2022 – Berkadia announced today the sale of Point of Pines, a 72-unit multifamily property located in Revere, Massachusetts. Managing Director Adam Dunn, Senior Managing Director Chris Phaneuf and Senior Director Matt Olson of Berkadia Boston investment sales completed the $27.15 million sale on behalf of the seller, Massachusetts-based The Heritage Companies. The buyer, also based in Massachusetts, was Helge Capital, and the deal closed on September 15.
“Despite market volatility, there is still ample liquidity for high-quality, well-located multi-housing assets in Greater Boston,” said Dunn.
Located at 190 North Shore Road, Point of Pines features two-bedroom floor plans with in-unit washers and dryers, private balconies and granite countertops. Community amenities include covered parking, a package concierge and a resident lounge. The property affords residents convenient access to Point of Pines Yacht Club, Revere Beach and the shops and restaurants near North Shore Road.