Business

Developer sells Fort Point apartment tower for $130m

The developer of the 20-story apartment tower at 315 A Street has sold it for $130 million, according to land records.

Gerding Edlen, the Portland, Ore.-based developer that completed the tower in 2013, sold the building to an affiliate of Equity Residential, a large real estate investment trust based in Chicago. The sale, first reported by the Boston Business Journal, was recorded Friday in the Suffolk County Registry of Deeds.

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Gerding Edlen got involved with the project in 2011, and aimed the apartments at a younger crowd that wanted to be in the thick of the booming mix of residences, workplaces, stores and restaurants going up in South Boston. The developer has also been involved in micro-apartment projects in Boston that planned to build residences as small as 330 square feet.

The building sold on Friday, known as 315 on A, is located near the Fort Point Channel and contains 202 apartments. Its developer touted the project for its sustainability features, including a solar power array and an energy-saving unit that generates both heat and power.

The buyer, Equity Residential, owns 34 properties with more than 7,800 apartments in Greater Boston, according to its most recent annual report.

Jack Newsham can be reached at jack.newsham@globe.com. Follow him on Twitter @TheNewsHam.
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