Waterton Snags 200-Unit Apartment Property in Quincy

National real estate investor and operator Waterton has acquired The Amelia Apartments, a 200-unit apartment community in Quincy, MASS. The sales price was not disclosed.

Located at 10 Faxon Ave., the 10-story property was built in 2006 and features studio, one- and two-bedroom rental homes. The community is located approximately 10 miles south of downtown Boston. The Amelia is adjacent to the MBTA’s Quincy Center Red Line train station, providing service to Downtown Boston and Cambridge in approximately 30 minutes. Of the 200 residences at The Amelia, 25 percent were recently renovated and Waterton will implement its comprehensive value-add program to upgrade the remaining apartment homes creating a consistent finish level across the property.

“The value-add potential, combined with the proximity to public transportation, were key factors in the decision to expand our footprint in the Boston area,” said Matt Masinter, senior vice president of acquisitions at Waterton. “With our signature value-add program and expertise, we plan to transform The Amelia into a vibrant and desirable rental community for residents seeking an attainable, yet well-appointed, housing option while bringing it in line with competing product in the market.”