City Realty has purchased a nine-building multifamily portfolio in Brookline, MA for $23.15 million, adding a sizable infill collection to its holdings in Greater Boston. Colliers facilitated the transaction on behalf of Ramon Realty. The portfolio totals 65,262 square feet and includes 49 residential units along with three commercial spaces, with current occupancy reported at 95%.
The properties are located in one of Brookline’s most sought-after neighborhoods, near leading medical and academic institutions in the Greater Boston area. According to Colliers, this positioning helped draw interest from both private and institutional investors across the country, reflecting the continued appeal of well-located multifamily assets in the region.
Colliers reported that the offering generated nationwide attention, indicating deep buyer demand for stabilized but improvable multifamily product in core locations. The combination of strong in-place occupancy and embedded value-add potential contributed to the portfolio’s competitiveness in a market where investors remain selective.
The portfolio, known as the Coolidge Corner Collection, offers a mix of renovated and partially updated units. Only 12% of the apartments have been fully renovated, while 57% have received partial upgrades, leaving a significant portion of the unit mix with further improvement potential. Colliers noted that this creates an opportunity for the new ownership to capture additional value through ongoing renovations as leases roll.
Frank Petz, Managing Director of Investment Sales at Colliers, described the Coolidge Corner Collection as representative of the type of high-quality multifamily asset that continues to draw investor capital. He emphasized that the level of interest observed throughout the marketing process persisted despite uncertainty tied to a proposed rent-control ballot initiative, underscoring investors’ confidence in Brookline’s long-term fundamentals.
The transaction highlights investor appetite for well-located multifamily properties in supply-constrained neighborhoods, even in the face of policy debates that could affect future rent growth and operating strategies. For City Realty, the acquisition delivers immediate scale in a high-barrier submarket while providing room to enhance the portfolio through unit-by-unit renovation and repositioning over time.
