Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2018
Building Area
Number of units 390

Property Description

Jones Lang LaSalle (JLL) is pleased to present the opportunity to acquire The Kendrick, suburban Boston’s premier apartment community. Located in the affluent town of Needham and adjacent to Route 128, the Kendrick offers 390 luxury apartment homes and expansive, best-in-class community amenities.

 

Consistent with its market-leading position, The Kendrick has performed impressively both before and during the pandemic. The community is presently 93% leased to an affluent resident base with an average professional household income of $218,500. The Kendrick’s central, easily accessible location makes it a short drive or train ride from the dynamic Route 128 commercial corridor, Cambridge, and Boston.

 

The town of Needham is widely recognized as one of the finest communities in Greater Boston, boasting an average home value of $1.15 million, household incomes of $221,000, an A+ rated school system and an abundance of shopping, dining, and recreational amenities. Needham has recently met the 10% affordability threshold under the Commonwealth’s 40B statute, which essentially ends new development of apartment communities within the town.

 

The Kendrick will be sold free and clear of debt financing, allowing prospective buyers to structure the sale to take advantage of their unique capital strategy and today’s highly attractive financing options.

Investment Highlights

  • Outperformance through 2020
  • Premier Location with High Barriers to Entry
  • Convenient Access to Robust Commercial Demand
  • Distinctive Product, including over 22,000 SF of Community Amenity Space
  • Proximate to Premium Lifestyle Amenities
Last Updated Date: 05 Apr 2021
Christopher Phaneuf
Christopher Phaneuf
Managing Director, Capital Markets
License details
MA-9032841
Adam Dunn
Adam Dunn
Senior Director, Capital Markets
License details
MA-9553106 CT-REB.0755412 ME-DB922772

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+6620260615
Last Updated Date: 05 Apr 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.