$39M Multifamily Portfolio Sale Sets 15-Year Pricing Benchmark in Davis Square

BOSTON, MA—Matthews™, a commercial real estate investment services and technology firm, represented the seller in the disposition of the Kingsley Orchard Realty Portfolio, located at 18 Day Street, 49 Dover Street, and 123 Orchard Street in Somerville, Massachusetts. Vice President Nick Jasinski facilitated the $39,000,000 transaction, marking the largest multifamily portfolio sale in the Davis Square submarket within the last 15 years.

After developing and holding the three properties for more than a century, Kingsley Orchard Realty Limited Partnership brought the portfolio to market for the first time. Jasinski conducted a comprehensive marketing process without a formal asking price, generating numerous tours and offers from qualified multifamily buyers. Following more than three rounds of competitive bidding, Jasinski closed the transaction 4% above the optimistic broker opinion of value.

The 120-unit portfolio comprises three brick apartment buildings located within one block of each other in Somerville’s Davis Square neighborhood. Featuring a unit mix of 33 studios, 66 one-bedroom units, and 21 two-bedroom units, the portfolio is 100% market-rate, with approximately 20% of the units partially renovated. Positioned near the MBTA Red Line and the Cambridge border, the portfolio provides access to major employment and education centers throughout Cambridge and Boston.

“Opportunities of this scale with more than a century of continuous family ownership are increasingly rare in Greater Boston,” Jasinski said. “Our priority was to maximize exposure, create competition, and deliver the strongest possible outcome for the family while keeping the transaction on schedule. Combining our Greater Boston market experience with Matthews™ technology and national reach allowed us to execute on that objective.”

For more information, please contact Nick Jasinski or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.