October 15, 2021
Ella Properties Announces Purchase of 112-Unit Apartment Portfolio for $24,000,000
Ella Properties is pleased to announce its purchase of a four-building portfolio in downtown Burlington, VT. The recently constructed and 100% leased properties contain 109 rental apartments and 3 commercial spaces in sought-after neighborhoods within walking distance of Burlington’s beloved urban core.
“We are thrilled to add these four assets to our expanding multi-family portfolio. The outlook for leasing fundamentals in Burlington is very good due to strong demand driven by the city’s “meds and eds” economy and a growing technology base, fueled in part by the expansion of remote working” said Ella principal Lisa Campoli. “The investment offers very attractive risk-adjusted returns relative to comparable opportunities in Greater Boston.”
316 Flynn Avenue 247 Pearl Street
237 North Winooski Avenue 258-260 North Winooski Avenue
