The community is spread over 8.4-acres consisting of a single five-story elevatored building. of Portland, Oregon (formally Gerding Edlen). John and John McLaughlin exclusively represented the seller, and procured the buyer, an affiliate of the Green Cities Co. The deal was $95.5 million.ĬBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. Execution of the business plan was a team effort acquisitions, asset management, and property management.Taurus Investment Holdings Sheds $95M Apartment to Portland Buyerīoston-based Taurus Investment Holdings has sold Strata, a 295-unit 100% market-rate multifamily community located at 500 Broadway in Malden, MA. Nick Clark, managing director at Taurus, said, “Strata aligned with the firm’s multifamily strategy to acquire highly functional but under-renovated assets in education focused markets. Additionally, the asset provides the buyer, The Green Cities Company, a stable investment opportunity given its proven track record and upside given the quality of the asset and potential value-add opportunities.” “Strata marks the successful execution of Taurus Investments’ strategy, having acquired the community in September 2017. “We are pleased to have represented Taurus Investment Holdings in their sale of Strata,” said Butler. Residents at Strata are minutes from numerous lifestyle retail amenities including Stop & Shop, Trader Joe’s and Target, as well as the one million s/f Square One Mall and numerous restaurants. Featuring walkable MBTA bus service on-site, residents have direct access to downtown Boston, Revere Beach and the Malden Center. in less than 15 minutes and is easily accessible to Boston’s Logan Airport. The apartment building provides access to downtown Boston and Cambridge’s Kendall Sq. 1 and is minutes from downtown, offering access to the MBTA Orange Line and the Blue Line at Revere Beach. Taurus had also renovated 124 of the apartment homes during their ownership period. Taurus had extensively renovated the amenities as part of its business plan and now the community features amenities such as an outdoor pool, outdoor space including multiple barbeques, fire-pit, seating area, a community room and fitness center. Strata offers four different unit styles including studios, one, two and three-bedroom apartment homes with an average unit size of 892 s/f. The community is spread over 8.4 acres consisting of a single five-story elevatored building. John and John McLaughlin exclusively represented the seller, Taurus Investment Holdings, and procured the buyer, an affiliate of The Green Cities Company of Portland, Oregon (formally Gerding Edlen). Malden, MA CBRE has arranged the $95.5 million sale of Strata, a 295-unit 100% market-rate multifamily community located at 500 Broadway.ĬBRE Capital Markets’ multi-housing experts Simon Butler, Biria St.
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