Foxfield completed the sale of 50 Broadway in Beverly, a 45-unit apartment community and one of three assets within its Beverly Residential Portfolio. Buyer and sale price were not disclosed. Simultaneously, Foxfield completed a refinancing of the two remaining buildings in the Beverly portfolio, Enterprise and Burnham, totaling 83 units.
Originally acquired in 2021 in partnership with Taymil Partners, 50 Broadway offers a variety of retail and outdoor amenities nearby. It is immediately adjacent to the Beverly Depot MBTA Commuter Rail Station and a short drive from the Route 128 employment hub.
“This market has performed very well from the day we acquired these assets,” said Shawn Hawthorne, partner at Foxfield. “We are proud of the results achieved through our partnership with Taymil and remain focused on advancing the strong performance of the remaining Beverly buildings.”
Kevin Gleason and Henry Smith at Walker & Dunlop helped facilitate the sale.
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