**Rockpoint Acquires Altitude Apartments in Malden, MA**
Boston-based real estate private equity firm Rockpoint has acquired the Altitude Apartments in Malden, Massachusetts. The acquisition was made in partnership with Metropolitan Properties, a local operator and the current owner of the property. Financial details of the transaction were not disclosed.
Altitude Apartments is a 41-acre, 919-unit multifamily community featuring 13 buildings located at 211 Kennedy Drive in Malden, just nine miles north of downtown Boston. The property benefits from its strategic location near shopping centers, local markets, and a broad selection of dining options. Additionally, on-site MBTA bus service offers direct access to Greater Boston, enhancing connectivity for residents.
“We are excited to add Altitude Apartments to our extensive residential portfolio,” said Tom Gilbane, managing member and co-president at Rockpoint. “With Greater Boston’s strong fundamentals supporting sustained demand for talent – and in turn, quality housing – this acquisition underscores our conviction in investing in high-quality assets in attractive markets that we know intimately.”
The addition of Altitude Apartments strengthens Rockpoint’s presence in the Greater Boston multifamily sector, aligning with the firm’s strategy of pursuing value-oriented investments in high-demand urban and suburban locations.
