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Deco Update 04/19/17

TA Realty acquires newly-built, 180-unit Deco luxury apartments in Quincy for $68.5 million

Real estate investor TA Realty of Boston has acquired Deco, a 180-unit luxury apartment development completed in 2016 located across from the Quincy Adams MBTA Red Line station, for $68.5 million, or $380,556 per unit. Developer Cabot, Cabot & Forbes acquired the 2.3-acre parcel on which Deco is built for nearly $10.4 million ($10,391,456), or $4,518,024 per acre, in May 2014 and paid around $36 million to develop the building. Lincoln Property Company will take over as Deco's property manager; Deco was previously managed by The Bozzuto Group.

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