Hudson apartment complex sold for $40M to LA real estate firm
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Highland at Hudson, a 158-unit apartment complex
J Highlands at Hudson, a 158-unit apartment complex near Route 495 built in 2005, has been sold to a Los Angeles real estate investment firm for $39.5 million.
The property was purchased by TA Central Fee Owner LLC, a corporation managed by TruAmerica Multifamily, according to Massachusetts Secretary of the Commonwealth records. TruAmerica is the 25th largest multifamily property owner and operator in the country, according to the firm’s website, owning 173 apartment complexes in 16 states, including complexes in Andover, Stoughton, and Cohasset.
“Highlands at Hudson presents the ideal value-add acquisition opportunity, with proven demand for renovated apartments and additional opportunities through continued renovations, professional property management and operational efficiencies,” Matt Ferrari, co-chief investment officer and head of acquisitions at TruAmerica, said in a Jan. 4 press release announcing the purchase. “The acquisition of this property expands our Boston portfolio, despite the capital markets environment that is limiting activity.”
The apartment complex was sold in a deal that was finalized on Dec. 27 by J Hudson Owner LLC in, an Iowa-based corporation managed by Jefferson Apartment Group, headquartered in Virginia. Jefferson purchased the complex in 2020 for $33.5 million.
TruAmerica has since rebranded the complex as simply Highlands at Hudson.
Mike Coyne, Travis D’Amato, Maggie McFarland, and Brendan Shields of real estate brokerage firm Walker & Dunlop in Maryland represented the seller in the transaction, according to the press release.
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