TruAmerica Multifamily acquires apartment community in Boston MSA

TruAmerica Multifamily acquired the Villas at Old Concord, a 324-unit apartment community in Billerica, Mass., a suburb of Boston.

“Boston is arguably one of the most appealing multifamily markets in the country given strong resident demographics and the breadth of job opportunities,” said Matt Ferrari, head of acquisitions and co-CIO at TruAmerica. “The Villas at Old Concord has a prime location in Billerica, one of Boston’s most well-located suburbs, providing residents with excellent connectivity to major employment hubs. This acquisition aligns well with our investment strategy, and we’re excited to grow our footprint in this vibrant, high-growth community.”

The Villas at Old Concord is situated in an employment growth corridor along Route 3, which connects major employment hubs along Interstates 95 and 495. The property is surrounded by technology, electronics, manufacturing, R&D, life science and medical employers anchored by such firms as EMD Ser