JLL Boston’s Multifamily sales team was recently ranked #1 in the market by Real Estate Alert with over $400 million in sales in the first half of 2016. A notable achievement in and of itself, the honor is even more significant given that it’s the first time in 10 years a new team has held the position in the Boston market.
JLL’s success was driven in large part by the $215 million sale of Hanover CambridgePark in Cambridge, the largest single apartment sale in Boston’s history, and the $90.3 million sale of the Residences at Rivers Edge in Medford.
Continued momentum is expected in the second half of the year as the team has over $400 million under contract and another $200 million of active listings.
And that pipeline doesn’t include the team’s equity raise business. In addition to all of the stabilized multifamily sales, the JLL team is currently raising almost $500 million in capital for three large developments.
According to JLL Capital Markets Managing Director Travis D’Amato, the honor is a long time in the making. “We’ve been building our business by doing what’s right for our clients and working harder than anyone else for the last four years,” he said. “We’ve built a really strong team and we’re proud to see the rankings finally reflect that.”
“That was our goal coming in—to take the number one position,” added JLL Capital Markets Managing Director Michael Coyne. “It took four years to do it, but that’s always been our goal.”
The JLL Multifamily Capital Markets team is led by D’Amato and Coyne, and also includes Vice Presidents Kevin Gleason and Brendan Shields and Design Manager Jennie Boylan.