Rockpoint in partnership with Metropolitan Properties has acquired Altitude Apartments, a premier residential community in Malden, Mass.
Financial terms of the transaction were not disclosed.
Altitude is a 41-acre multifamily community providing high-quality one-, two- and three-bedroom rentals nine miles north of downtown Boston. With 919 units across 13 buildings totaling 884,368 rentable square feet, the property offers spacious, modern residences that feature open floorplans, high-end appliances and finishes and newly renovated kitchens and bathrooms. The community’s prime location is enhanced by proximity to local markets, shopping centers and a variety of dining options, as well as an on-site MBTA bus service providing direct access to greater Boston.
“We are excited to add Altitude Apartments to our extensive residential portfolio,” said Tom Gilbane, managing member and co-president at Rockpoint. “With greater Boston’s strong fundamentals suppo
