MAA & Serone Group Acquire 2nd Boston Property

Dateline: Boston, MA, September 13th, 2019 – MAA and Serone Group teamed to acquire a second multifamily property in the Boston metro, the iconic Navy Yard 33 Apartments in Charlestown. The micro-location of Navy Yard 33 is nothing short of spectacular, occupying an irreplaceable location in the heart of the Boston Navy Yards – a 30-acre former Navy installation on the Boston waterfront, now administered by the National Park Service.

Ownership plans a green utility retrofit and moderate interior renovations to optimize Navy Yard’s status as a premier in-town rental community.

The Boston office of Walker Dunlop including team members Travis D’Amato, Kevin Gleason, Michael Coyne, Brendan Shields and Pablo Murillo brokered both transactions. Pinnacle Management will serve as Property Manager for both communities. Charles Cole and team at Hunt Real Estate Capital provided mortgage financing. Multifamily Acquisition Advisors will operate the asset, overseeing execution of the business plan and day-to-day operations.