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News release


Investors Target Suburban Boston Multifamily Assets for Value

JLL completes sale of Union Place Apartments

BOSTON, Dec. 21, 2016 – As employment remains strong and multifamily supply remains tight, investors continue to find value in transit-oriented suburban multifamily product. On behalf of Berkshire Group, JLL's Capital Markets​ team announced the firm completed the sale of Union Place Apartments, in located in the suburban Boston city of Franklin, Massachusetts. Jones Street Investment Partners purchased the 300-unit Class A multifamily asset.

Union Plavce Apartments.JPGManaging Directors Travis D'Amato​ and Michael Coyne and Vice Presidents Kevin Gleason and Brendan Shields led the JLL team on the deal.

"Investors are finding value in Class A suburban product as Central Business District rents remain on an upward trajectory," said D'Amato. "These assets are often available at a relative discount and provide opportunity to increase revenues with small value-add programs."

Located directly off of I-495, Union Place Apartments is just 25 miles outside of downtown Boston and provides residents with several transit options including access to the Franklin MBTA Commuter Rail Station.

The community is comprised of one and two-bedroom units. Amenities include a state-of-the-art fitness center, a resident clubhouse, a swimming pool with a sundeck and an outdoor kitchen. In-unit amenities include a washer and dryer in every unit, central air conditioning, walk-in closets and vaulted ceilings. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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About Berkshire Group

Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire's team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco.  As of September 30, 2016, Berkshire Group had approximately $7.1 billion in real estate assets under management.  For more information on Berkshire, please visit

About Jones Street Investment Partners

Jones Street Investment Partners, LLC ("JSIP") is a real estate investment sponsor focused exclusively on multifamily assets in the Northeast.  JSIP is located in the Boston, MA metro area, and the Principals of JSIP have been active in the geographic region for approximately fifteen years. 

JSIP is enacting a proactive, thesis-oriented and data-driven approach to multifamily investing.  JSIP carefully analyzes geographic, demographic, and economic trends and considers them in the context of capital markets opportunities.  This allows JSIP to formulate specific investment theses, which it then proactively looks to enact through proprietary deal sourcing.  JSIP's current portfolio consists of ~1,500 multifamily units and over $250M of assets under management.


About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 70,000.  On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit