LAWRENCE, MA- In its first Boston-area acquisition, JPI buys a 222-unit apartment community, British Colonial, from KG Associates. Financial details of the deal were not released

The complex is located at 14-18 Beacon St. and JPI, an Irving, TX-based developer of apartment communities, plans to renovate and upgrade the property, which it will rename Hampton on Beacon Street Apartments. Among the planned improvements are renovating the existing pool and adding a clubhouse as well as other luxury amenities.

J. Frank Miller, III, JPI chairman and CEO points out that the purchase fits into the firm’s strategy of acquiring assets in metropolitan areas and adding value through an investment of capital and people. Mike Girard with Apartment Realty Advisors-Nordblom represented JPI.

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