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, ornatewoodwork and stone decorative detail in the common areas. Theportfolio consists of 85 studios, 87 one-bedroom, 24 two-bedroomand four three-bedroom units. The rents range from $928 to$2,075.

Alpha Management is a privately owned company with apartmentcomplexes located in areas traditionally dominated by studentpopulations. They currently own more than 25 properties with over600 units in the Allston/Brighton, Brookline, Cambridge, Fenway andSouth End communities.

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