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Federal Realty Investment Trust has sold a 56-unit apartment complex that it developed in 2013 to Braintree-based John M. Corcoran & Co. for $14.76 million.
Currently 98 percent leased, Chelsea Place contains units averaging 909 square feet. Tenant amenities include a lounge and coffee bar, outdoor lounge and fitness center.
The 4-story complex, located next to the Chelsea Commons retail center, was built using modular building technology by Oaktree Development of Cambridge, with units constructed by Keiser Homes in Maine and shipped to the site for assembly.
HFF’s Chris Phaneuf and Adam Dunn represented the seller and procured the buyer.
