Investment sales broker sells buildings in Framingham

As seen in The Metrowest Daily News

Investment sales broker Northeast Private Client Group has announced the sale of multiple local buildings. Drew Kirkland, senior associate; Francis Saenz, investment associate; and Tim McGeary, investment associate, all of the Newton office, represented the sellers and procured the buyers in all five transactions totaling $6,760,000. Two of the properties were in Framingham. On Dec. 3, the company closed the sale of 17 and 23 Raymond St., Framingham. This 12-unit multifamily building traded for $1,250,000 to Union Realty Trust. This equates to a price of $104,166 per unit and a capitalization rate of 8.2 percent based on the current net income. The seller, VTT Management, is based in Framingham. On Dec. 7, the company closed the sale of 584-592 Waverly St., Framingham, an 11,425-square-foot mixed-use property. The seller, VTT Management Inc, sold the property to The Beantown Companies for $1,335,000. This equates to a price of $116.85 per square foot with a capitalization rate of 6.6 percent on the current net operating income.

 

About Northeast Private Client Group

Northeast Private Client Group is the fastest growing mid-market investment sales firm in the Northeast, providing unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to each client’s needs. The firm’s collaborative and research-driven solutions are tailored to meet the individual needs of investors across the Northeast who are looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year, and been ranked on the Inc5000 list of America’s fastest-growing private companies. To learn more, visit: www.northeastpcg.com.