Jones Street is now over $500 million in assets in less than four years since its founding
August 07, 2018 – BOSTON – Jones Street Investment Partners, a Boston-based multifamily investmentsponsor and operator, has acquired Town Walk at Hamden Hills, an apartment community in the New Haven, Connecticutsuburb ofHamden, for $136.5 million. The property was acquired froman affiliate of Baker Properties, a real estate developer and operator founded in 1966 and based in White Plains, NY. The private and off-market transaction was brokered by Matthew Keefe and Ricardo E. Cordido of HK Group in Westport, CT, who represented Baker Properties and procured Jones Street.
Located at 100 Town Walk Drive, the community comprises 764 apartments and two recreational centers across 22 buildings. Completed in 1996, the property offers one-, two- and three-bedroom floorplans ranging from 767 to 1,405 square feet. Amenities include two heated swimming pools and sundecks, two fitness centers, a tennis court, an indoor basketball court, three landscaped barbecue areas, and a fully equipped playground for children. The property also has 108 carports and 25 storage units for rent.
The transaction is an expansion into a new geography for Jones Street, whichis now owner of over $500 million in assets and more than 2,800 apartment units throughout Massachusetts, New York, Connecticut, Rhode Island, New Hampshire, and Maine. “We are excited to bring Town Walk into our portfolio,” notes Matt Frazier, Founder and CEO of Jones Street. “It is a continuation of our vision for Jones Street’s growth, which is to acquire well-regarded communities with identified value in markets we know well. Baker Properties were an ideal transaction partner, and we are happy to have been able to work with them.”
”We are pleased to have completed this transaction with Jones Street in a timely and efficient manner, thereby minimizing any disruption to our residents and on-site staff. Town Walk is a market leading community, and we congratulate Jones Street on their acquisition,“ said Marc Baker of Baker Properties.
About Jones Street Investment Partners:Jones Street Investment Partners (“Jones Street”) is a real estate investment sponsor focused on multifamily assets in the Northeast and Mid-Atlantic. Jones Street enacts a proactive, thesis-oriented and data-driven approach to multifamily investing. Since its founding in October 2014, the Company has acquired properties in six states totaling over 2,800 units.
About Baker Properties:Baker Properties is an affiliate of The Baker Companies. Together with its sister company, Baker Residential, it develops, owns and manages industrial and multi-family properties and for sale housing throughout Connecticut, suburban New York, New Jersey, Pennsylvania, Richmond, Virginia and Raleigh, North Carolina.
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Patrick Sullivan, Head of Investor Relations, firstname.lastname@example.org, 617.904.4045