The Hamilton Co. has purchased Oakley Court, a 29-unit apartment building in Watertown, Mass. for $3.2 million.
Oakley Court was built in 1942 byÂ James H. Carrig, whose family held the four-story brick property ever since. Upon completion of the acquisition, the complex will be renamed Hamilton Court, according toHarold Brown, founder and chairman of The Hamilton Co.
The complex contains a mix of studios and one-bedroom units. The 900-square-foot studios rent for $1,200 while the 1,600-square-foot one bedrooms lease for $1,600.
Brown has been busy buying up properties this year. The acquisition is Hamiltonâ€™s fifth this year, bringing the companyâ€™s total purchases to more than $100 million including the Douglas Apartments in Boston for $42 million, Windsor Green in Andover at $62 million and a development parcel at 441 River St. in Waltham for $2.4 million.
Hamilton Co. in Allston owns and manages more than 5,200 residential units and nearly two million square feet of commercial property in Greater Boston.
Source: Boston Business Journal