Developer Gerding Edlen has sold its 378-unit Troy Boston apartment tower in Boston’s South End for $216.1 million, or nearly $572,000 per unit, to Chicago-based Equity Residential.

The Traveler Street complex, which opened in March 2015, includes a 19-story tower, 11-story mid-rise building and 4-story parking garage.

CBRE/New England’s Simon Butler and Biria St. John represented the seller.

“We are pleased to have facilitated this transaction on behalf of Gerding Edlen who saw the vision for what this part of the South End could be. It was a transformative development that completely changed the neighborhood into a vibrant mixed-use neighborhood,” Butler said in a statement. “Troy Boston represents a best-in-class asset with a cutting-edge design, breathtaking views of the city and exceptional access to downtown Boston, Back Bay and South Boston.”

The LEED Gold-certified complex includes 81 studios, 213 one-bedroom units and 84 two-bedroom units. Units average 630 square feet.

Equity Residential Buys South End Apartment Complex for $216M

by Banker & Tradesman time to read: 1 min
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