Pacific Urban Investors Buys Medford 222-Unit Apartment Community
Pacific Urban Investors has acquired The Residences at River’s Edge, a 222-unit apartment community in Medford, MA. The price of the purchase was not disclosed.
Located at 100 Rivers Edge Dr, the property was built in 2009 and features various floor plans with high ceilings. Pacific aims to expand its Boston portfolio and actively seeks additional investment opportunities in the area. The company currently manages over 20,000 units nationwide, with more than $8.6 billion in assets under management.
“Residences at River’s Edge gives Pacific the opportunity to acquire a contemporary apartment community in an extremely job- and amenity-rich location,” said Dan Maccabee, vice president of investments at Pacific. “The property offers residents convenient access to Boston’s employment centers as well as the rapidly expanding neighborhood of Assembly Row.”
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.