Rockpoint Acquires Altitude Apartments, Premier Residential Community in Greater Boston Metro Area
- Editor
- 4 days ago
- 1 min read
Whats Happening:
Rockpoint, a Boston-based real estate private equity fund, has acquired Altitude Apartments, a 919-unit multifamily community in Malden, Massachusetts. The fund partnered with Metropolitan Properties, the current owner, to purchase the property. Altitude Apartments is a 41-acre community offering high-quality one-, two- and three-bedroom rentals with modern amenities and convenient access to downtown Boston.
Key Moves:
Rockpoint acquires Altitude Apartments, a 919-unit multifamily community in Malden, Massachusetts
The fund partners with Metropolitan Properties, the current owner, in the acquisition
Altitude Apartments offers high-quality rentals with modern amenities and convenient access to Boston
By The Numbers:
Altitude Apartments features 919 units across 13 buildings
The property totals 884,368 rentable square feet
Rockpoint has made 135 residential investments since 1995, including approximately 95,000 multifamily units
Key Quotes:
"We are excited to add Altitude Apartments to our extensive residential portfolio," said Tom Gilbane, Managing Member and Co-President at Rockpoint.
"This acquisition and newly formed partnership positions both firms to further expand their holdings in the market," said Greg Cohen, Chief Investment Officer at Metropolitan Properties.
"We look forward to continuing to enhance the resident experience and positioning the Altitude community for long-term success," said Fred Borges, Senior Managing Director at Rockpoint.
Bottom Line:
Rockpoint's acquisition of Altitude Apartments demonstrates the fund's continued focus on high-quality residential investments in attractive markets. This purchase aligns with Rockpoint's strategy of targeting properties with strong value potential and positions the fund for further growth in the Greater Boston metro area's multifamily sector.
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