Jefferson Apartment Group (JAG), an Eastern U.S. multifamily real estate developer and operator based in McLean, VA, boosted its holdings in a core market with the purchase of the 262-unit One Upland complex in suburban Boston for $93 million, or approximately $355,000 per unit.
Braintree, MA-based developer Campanelli delivered the mid-rise complex late last year on a 23.24-acre site at 1 Upland Woods Cir. minutes from I-95/U.S. Route 1 and Norwood Memorial Airport in Norwood, MA.
The community consists of one- and two-story apartments with on-site amenities that include a clubhouse, pool and movie amphitheater. In addition to its proximity to major thoroughfares and the Norwood airport, the complex places residents near the Legacy Place and University Station shopping centers, as well as the MBTA and the 128-train station.
Travis D’Amato and Michael Coyne of JLL represented Campanelli in negotiations.
