A joint venture between Jefferson Apartment Group (JAG) and LaSalle Investment Management has acquired the 289-unit CityView at Longwood apartment complex in Boston’s Longwood Medical Area.
The seller was Equity Residential and the sales price was $180 million.
The firms plan to renovate the property.
LaSalle Investment Management is the joint venture equity partner. This is the first acquisition on behalf of the partnership between JAG and NYL Investors. New York Life Real Estate Investors acted as investment adviser to NYL on the venture.
