Boston Financial Acquires Maryland Apartment Complex for $6.85 Million.BOSTON--(BUSINESS WIRE)--August 11, 1998--Boston Financial, a national real estate investment management firm, today announced that it has acquired the 156-unit Cedar Valley Cedar Valley may refer to:
Boston Financial made the investment on behalf of its private REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , Boston Financial Multifamily Investment Trust Inc. The Multifamily Investment Trust plans to acquire more than $150 million in multifamily real estate assets in 1998. The fund invests in value-added opportunities with superior, risk-adjusted yields. "As with our other investments this year, we believe this property's value can be significantly improved with the addition of capital and better management," said Steve Centrella, Vice President of Acquisitions, Boston Financial Institutional Real Estate. "While other investors have only recently entered this sector of the market, we have almost 30 years of experience in repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. and rehabilitating multifamily properties. We believe Cedar cedar, common name for a number of trees, mostly coniferous evergreens. The true cedars belong to the small genus Cedrus of the family Pinaceae (pine family). Valley's key location between Baltimore Baltimore, city (1990 pop. 736,014), N central Md., surrounded by but politically independent of Baltimore co., on the Patapsco River estuary, an arm of Chesapeake Bay; inc. 1745. and Washington D.C., a strong and growing corridor, adds to its value." With more than 29 years of experience in multifamily housing, Boston Financial has extensive expertise when advising institutions, corporations and individuals on real estate-related investments. Currently, the Boston-based company has $4.5 billion in multifamily assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , and experience in the investment and operation of multifamily and senior living properties, real estate investment banking, institutional real estate investment management, and risk management and insurance services. Boston Financial is the 6th largest multifamily owner and the 17th largest property manager in the nation.
CONTACT: Doug Donsky
GCI Group
(212) 303-7608
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