(Save the date: RealShare Apartments comes to the WestinBonaventure, Los Angeles, October 24.)
DEDHAM, MA-Archstone, which figures in a$100-million IPO filed late last week byLehman Brothers Holdings, has increased the numberof rental multifamily properties it owns in the Boston area from 10to 11. The Englewood, CO-based apartment owner and developer saidWednesday that an Archstone-aponsored partnership had paid $94.25million to acquire Station 250, a 285-unit rental community here,from Fairfield Dedham LP, a subsidiary of Atlanta-based BVTEquity Holdings Inc.
The purchase price equates to $330,702 per unit, according toReal Capital Analytics data. CBRE brokered thedeal on behalf of Fairfield Dedham.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
