Boston, MA. Swedish-based Akelius US LLC closed a $64.25M deal today to purchase an apartment building in South Boston, Massachusetts. Carson Tower, a 153-unit building, is South Boston’s only existing beachfront apartment community. Nixon Peabody served as Akelius’s legal counsel in this acquisition from Fairfield Bay Tower, LP. Nixon Peabody’s deal team was led by Boston real estate partner Christopher Froeb and Boston real estate associate Christina Ricotta.
Akelius acquires, upgrades and manages multifamily residential properties, owning more than 50,000 apartments in Europe, Canada, and the United States. This latest acquisition puts Akelius’ U.S. portfolio over $1B in capital since entering the U.S. market in 2015. Akelius acquires residential properties with strong growth and upgrade potential, and currently owns properties all along the Northeast corridor from Washington, DC, to New York and Boston.
“The Greater Boston area is one of the core markets for Akelius US in the United States.” said Noam Kleinman, regional vice president at Akelius Residential AB. “Working with Nixon Peabody in the Boston market, we have been successful in quickly building a portfolio of assets that meets our very specific investment criteria.”
In addition to the Carson Tower acquisition, Akelius US has also acquired the following assets since 2015: Forest Court Apartments in Cambridge, Massachusetts; West Square Apartments and West Side Crossing in South Boston; South Street Apartments in Brighton; as well as several other apartment buildings and complexes in the Greater Boston area.