Wellington Place Sells for $40 Million

Wellington Place Sells for $40 Million

Wellington Place an apartment complex in Medford, MA.

Wellington Place, an apartment complex in Medford, Massachusetts, has sold for 40 million dollars.  The complex is 6 acres wide and has a total of 137 units.  MIREF Wellington LLC bought Wellington Place.

Medford is only four miles outside of Boston; this puts Wellington Place within walking distance of the MBTA.  The nearest stop is the Orange Line’s Wellington Station.

Spread over 6 acres, Wellington Place consists of three four-story apartment buildings with 42 one bedroom and 95 two bedroom apartment. There are two single-story detached garage buildings. It also has a single story clubhouse, fully loaded with a lounge featuring a fireplace and a flat screen television, a fitness center, a heated outdoor swimming pool with a sundeck and a picnic area, and storage.  (Boston Business Journal)

Previously, this property was sold to Northwestern Mutual in 2001.  Wellington Place was then sold for 5.4 million dollars.  In 2006 they took a 17.7 million dollar mortgage on this property.

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