ARLINGTON, MA-A private partnership is divesting itself of the Brattle Realty Portfolio to the tune of $41.2 million. Nostalgia Properties, LLC, an affiliate of the Hamilton Co., is purchasing the 316-unit portfolio spread across Arlington and Cambridge.
The portfolio represents roughly 90% occupancy and ranging in rent from $800 to $1650, the highest rent coming from 385 Massachusetts. The seller was represented by Cushman & Wakefield’s Capital Markets Group including Simon Butler, Biria St. John, Chris Sower and Michael Byrne. They also procured the buyer, while the seller was legally represented by Nixon Peabody LLP.
The portfolio includes: 1, 2, 3, 4, 7, 8, 11 &12 Brattle Dr., comprised of eight three-story buildings and a sigle family home with 117 units; 385 Massachusetts Ave., an eight-story multifamily building; 898 Massachusetts Ave. a five-story property; 333 Massachusetts Ave. and 11 Allen St. are two three-story properties; 11, 15 and 19 Dudley St. and 50 & 54 Grove St. which are four single-story properties; all in Arlington. The Cambridge properties are 9 & 15 Chester St., two three-story properties.
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