Waterton has acquired The Amelia apartment community at 10 Faxon Ave. in Quincy, Mass. A purchase price was not disclosed.
Built in 2006, the 200-unit, 10-story rental tower features studio, one- and two-bedroom rental homes and is situated on 1.2 acres just 10 miles south of downtown Boston. The Amelia transaction marks Waterton’s second acquisition in the Boston metro area, coming seven months after the firm’s entry into the market with the acquisition of Rosemont Square in Randolph, Mass.
“The value-add potential, combined with the proximity to public transportation, were key factors in the decision to expand our footprint in the Boston area,” said Matt Masinter, senior vice president, acquisitions at Waterton. “With our signature value-add program and expertise, we plan to transform The Amelia into a vibrant and desirable rental community for residents seeking an attainable, yet well-appointed, housing option while bringing it in line with competing prod
