The Estates Update 10/25/17

Invesco acquires Hull apartment community for over $47 million


Invesco Real Estate has purchased The Estates, a 162-unit residential apartment community located in Hull steps from Nantasket Beach, for $47.15 million from Barings Real Estate Advisers. The sale amounts to over $291,000 per unit, and was brokered by CBRE New England’s Capital Markets team. The Estates last sold in January 2006 for $34.55 million, over $213,000 per unit. The property is located just 20 miles from Downtown Boston, and is accessible by MBTA commuter rail and boat service.

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