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Blue Harbor Sells for $33M

Author: Diana Heeb Bivona

The Blue Harbor Apartments at 3380 Swenson St. sold to SVS Apartments LLC for $33 million, or about $82,500 per unit. The multifamily complex has 400 units in 12 buildings totaling 141,925 square feet. It is also on an 8-acre parcel of land. The property was sent into a six-month escrow period after only being on the market for one week. It is reported that the complex had a cap rate of 6.6% at the time of the sale.

This entry was posted on Saturday, January 27th, 2007 at 1:18 am and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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