Bell Partners acquires new Olmsted Place apartments in Jamaica Plain for $103.25 million

Residential real estate developer and investor Bell Partners has acquired the 196-unit Olmsted Place luxury apartments in Jamaica Plain, which opened in Fall 2015, from developers Boston Residential Group (BRG) and Carlyle Realty for $103.25 million in cash. The sale amounts to $526,785.71 per apartment. Olmsted Place overlooks the scenic, Frederick Law Olmsted-designed Emerald Necklace parklands and features desirable amenities including an outdoor pool deck, a tree-lined terrace, a fitness center and a resident lounge. BRG and Carlyle acquired the Olmsted Place site, located at 161 South Huntington Avenue, for $10,127,857 in December 2013 and proceeded to develop the $84 million Olmsted Place apartment community. A 55,000-square-foot complex home to The Home for Little Wanderers formerly stood on the site. Olmsted Place is located steps from the MBTA Green Line and the Longwood Medical Area, a short drive or train ride to Downtown Boston.

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