Berkadia facilitated the sale of a seniors housing community in the Boston, Massachusetts MSA. The seller was Wood Partners, which developed the community. The buyer was an entity linked to BlackRock Realty Advisors.
Built in 2022, Alta Oxbow is a recently stabilized seniors housing community in Wayland with 218 units across three buildings in Wayland, Massachusetts. The community includes 55 units designated as affordable, and 66 units restricted to people over age 55. Within the 55 affordable units, 17 will be restricted apartments for those over the age of 55. The community has an 86% renewal trend and 12% year-to-date rent increases.
Chris Phaneuf and Adam Dunn handled the transaction. According to Bisnow, property records indicate the purchase price was $98 million, or $450,000 per unit.
