Structure Tone paid $35.3 million to buy the Residences at Munroe Place, a multifamily complex in Quincy, said a broker involved in the transaction.
The broker is the commercial real estate services firm Jones Lang LaSalle, which represented the seller in the transaction, National Real Estate Advisors.
The 111-unit complex is nearly 100 percent occupied, and the ground floor retail space is anchored by a Starbucks, said Jones Lang LaSalle, whose team on the transaction was led by senior vice presidents Travis D’Amato and Michael Coyne.
“The Residences at Munroe Place presented investors the rare opportunity to obtain a 100 percent market rate property adjacent to a T stop,” D’Amato said in a statement. “Due to its transit orientation, underground parking, steel construction, and close proximity to downtown Boston, we received a very high level of interest during the marketing process.”
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