Girard Update 08/22/17

Equity Residential acquires Girard apartments in South End from New Atlantic Development for $116.4 million


Nationwide real estate developer and investor Equity Residential has acquired the long-term leasehold for the newly built Girard apartments, a 160-unit luxury apartment building in Boston’s South End with 3,600 square feet of ground-floor retail, for $116.4 million in cash from developer New Atlantic Development. Girard opened in 2016 and is situated in the South End’s culturally-rich SoWA neighborhood. Amenities include on-site garage parking, a Wi-Fi Workbar, meeting rooms, top-floor and rooftop common areas and a fitness center. Southern Proper, a new Southern-influenced restaurant led by Chef Jason Cheek, is expected to open on Girard’s ground floor in the coming months. New Atlantic Development acquired the 99-year long-term leasehold on the 1.27-acre Girard site for $2,678,292.11 in December 2014 from The Roman Catholic Archbishop of Boston, and invested $62 million in Girard’s development.

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