New York City-based LCOR has acquired The Batch Yard, a 328-unit residential community located in Everett, Massachusetts near Boston for an undisclosed sum.
The Batch Yard is an elevator-serviced mid-rise apartment community which features studio to two-bedroom and 1- to 2-bathroom floorplans which range in size from 500 to 1,100 square feet. Amenities include resident package service, controlled access, pet care plus a pet play area, a resident car wash area, a business center and clubhouse, a fitness center, a courtyard with a pool and sundeck plus a grill area, and a Gameroom with a movie theatre.
“We’re confident in the continued growth and desirability of Everett and are proud to officially launch our Innovative Living Strategy within this community,” said Jacob Albano, director of acquisitions at LCOR. “We see a deep pool of assets that can benefit from these technologies and plan to replicate this business plan across multiple properties throughout our target markets.”
Tolliver Williams, head of capital markets at LCOR, added, “As part of this investment, we are pleased to be partnering with such a reputable partner, NTT Urban Development Corporation, via its local subsidiary NTT UD USA Inc, which is an endorsement to the LCOR brand and this unique strategy,”
LCOR is a fully integrated real estate investment, development, and management company with a focus on transit-oriented multifamily-for-rent communities in the eastern half of the U.S. With a focus on “creating core”, LCOR specializes in ground-up development, adaptive reuse, and acquisition of high-quality assets in and around key gateway markets. LCOR has been in existence for over 45 years and seeks to continue to grow its 11,000+ unit portfolio through acquisitions and development.
