Apartment

Princeton North Andover

Boston, MA

Acquired May 2021

At a Glance

A 192-unit, luxury apartment community in the affluent north-Boston suburb of North Andover, Massachusetts.

Investment Rationale

  • Newly constructed, Class-A, 100% market rate apartment community in the desirable town of North Andover with excellent connectivity to employment, amenities, and commuter rail lines to downtown Boston.

  • North suburban Boston area has one of strongest demographic profiles with average household incomes over $160,000, average homes sales price over $700,000 and highly rated public-school system ranking in top 25% statewide; acquired off market at attractive price of approximately $375,000 per unit.

  • Suburban Boston listed as an overweight market and ranked in top five nationally according to LaSalle’s Research & Strategy Group’s proprietary national market database.

  • Infill location with local market vacancy below 3% presents potential for attractive rent growth.

  • Investment continues JLL Income Property Trust’s increasing allocation to attractive apartment property sector.

Property Gallery

Location

Princeton North Andover Property Profile Map 01