Green Cities IV Announces Acquisition of Caldwell
The Green Cities Company is pleased to announce their recent acquisition—Caldwell in Lynn, MA.
The 259-unit multifamily apartment property is located 11.5 miles north of downtown Boston positioning its residents to experience the outstanding quality of life offered by the fast-growing neighborhood of Lynn with easy access to downtown Boston. Caldwell is located directly adjacent to the Central Square MBTA commuter rail station, which is undergoing a $33 million upgrade with additional service to the city. The property is highly amenitized with an 8,000 square foot roof deck, rooftop pool, an indoor fitness center with climbing wall, co-working and meetings spaces, pet park and wash station, bicycle storage, coffee bar and storage lockers
Green Cities will continue to drive value in the asset by enhancing the common areas, focusing on management, and driving new health, wellness and ESG strategies into the property. The acquisition reflects The Green Cities Company’s continued focused strategy of investing in high quality assets with value growth opportunities created by leveraging the firm’s expertise in operations, capital improvements, and the implementation of ESG strategies.
The Green Cities Company acquired the property on December 1, 2021, on behalf of Green Cities Fund IV, the firm’s fourth value-add fund. Caldwell represents the fund’s seventh acquisition overall.