North Colony Asset Management

Boston-based North Colony Asset Management has acquired the Harbour Pointe portfolio, a group of commercial properties near the Kayem Foods factory in Chelsea for $71 million.

Sold by developer Anthony Simboli, the eight-building portfolio spans approximately 10 acres. It includes three office buildings along with warehouses, auto repair uses and parking lots.

“It’s a long-term hold for us,” North Colony Partner Brian Antonellis said. “We think it’s great real estate and we’re looking 10 to 15 years down the line. The goal is to maintain the tenancy we have today, and work with the city of Chelsea on the long-term best uses.”

The portfolio is 88 percent leased, including office buildings at 70, 80 and 90 Everett Ave. Other parcels include a warehouse at 97 Second St., auto repair garage at 60 Arlington St., parking lot at 105 Second St. and an office-warehouse building at 45-47 Spruce St., according to Chelsea assessor records.

North Colony has offices in Boston and Santiago, Chile. Locally, its holdings include the Heritage Point office building in North Quincy, 805 Middlesex Turnpike in Bedford and 200 Inner Belt Road in Somerville.

Boston Developer Buys Harbour Pointe Portfolio in Chelsea for $71M

by Steve Adams time to read: 1 min
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