Alpha's Fenway acquisition includes 132-136 and 204 Hemenway St. and 97, 109 and 115 St. Stephen St., near Northeastern University. The buildings are noteworthy for their architecture, ornate woodwork and stone decorative detail in the common areas. The portfolio consists of 85 studios, 87 one-bedroom, 24 two-bedroom and four three-bedroom units. The rents range from $928 to $2,075.

Alpha Management is a privately owned company with apartment complexes located in areas traditionally dominated by student populations. They currently own more than 25 properties with over 600 units in the Allston/Brighton, Brookline, Cambridge, Fenway and South End communities.

Alpha representatives were not available for comment at deadline, but Mike Girard, associate at ARA who brokered both sales along with Jonathan Close, partner at ARA, says in a statement, "Although recent reports have shown rental rates in Boston have softened a bit, investors are as aggressive as ever when it comes to acquiring well-located properties in the city."

The Charles Daniels apartment complex has changed hands three times since it was converted from a schoolhouse and renovated in the 1980's. It was originally developed by local entity Forest Properties, who sold it to Chicago-based REIT Jones Lang LaSalle Properties, who turned it over to Archstone, who in turn sold it to locally based Coliseum, according to Girard.

The property is located between two parks and has a pool, fitness center and courtyard. The average rent for the complex is $1,373, but it is set to be converted into condominiums by Coliseum, who declined to be interviewed, pending notification of the building's residents. But ARA's Close says in a statement, "Condo converters continue to play a major role in the strength of the Greater Boston multifamily investment market and this transaction proves that."