BOSTON, MA – Taymil Partners and Novaya Residential announce the acquisition of three multifamily apartment complexes in Beverly, Massachusetts. The three properties are located at 375 Rantoul Street, 79 Rantoul Street and 50 Broadway. Collectively, the portfolio is comprised of 128 units totaling approximately 93,059 square feet, with 113 parking spaces and one street level retail storefront. The transaction was brokered by Chris Phaneuf and Adam Dunn at JLL.
Taymil Partners Founder & CEO, Steve Astrove said, ”We are thrilled to team up again with Novaya and to expand our multifamily presence North of Boston to Beverly.”
Novaya Residential Principal, Karl Trieschman commented, “We are extremely excited to partner with Steve and his team on this acquisition. With excellent access to Boston via the commuter rail and an abundance of amenities, downtown Beverly continues to transform into one of the most dynamic markets on the North Shore.”
This marks the second collaboration between Taymil and Novaya Residential, with the first acquisition being a 131-unit residential rental complex located in Providence, Rhode Island.
About Taymil Partners: Founded in 2002, Taymil Partners LLC (Taymil) is a fully integrated real estate investment and management firm with a portfolio of multifamily properties in the New England states. Taymil currently owns and manages approximately 2,375 apartments with concentrations in the Greater Boston Area; suburban Portland, Maine; Providence, Rhode Island and Central Connecticut.
About Novaya Residential: Novaya Residential was established in 2018 in order to pursue investment in and development of land, for-sale homes and rental communities. It is a closely held affiliate of Novaya Real Estate Ventures, a leading Boston based private equity owner/operator, recognized for its visionary investments and game changing execution across multiple asset classes, including office, high street retail, and industrial/flex.