Boston, MA. Sweden-based Akelius Residential AB has acquired its first two multifamily properties in Massachusetts. Akelius Residential AB, through its U.S. company Akelius US LLC, has purchased West Square Apartments and West Side Crossing, both in the Seaport District of South Boston.
West Square is a luxury, full-service apartment community of 255-unit residential units and a parking garage. Located across the street, Westside Crossing is a luxury 24-unit multifamily building with on-site parking. According to Chad Perrone, the regional head of acquisitions for Akelius US LLC, Akelius Residential AB has targeted Greater Boston as one of its key U.S. markets.
Akelius Residential AB is focused on the acquisition and managing multifamily assets, owning more than 50,000 multifamily units in six countries.
Nixon Peabody was Akelius’ legal counsel for these Massachusetts acquisitions. The deal team for both transactions was led by Christopher Froeb and Christina Ricotta.