Investment Highlights
The Preserve at Cohasset represents TruAmerica’s first investment in the Boston MSA. Located in the oceanside Town of Cohasset, the property stretches over 61 acres, offering unique low density-style living with 100% direct-entry homes featuring highly sought-after townhome and loft-style floorplans, above average apartment home sizes (average of 1,333 SF), and both attached and detached garage parking. The Preserve’s location provides tremendous access to job centers in Boston, via nearby MBTA commuter rail and ferry stations, as well as its location on Route 3A. In addition to its location, Cohasset boasts the 2nd best public school system on the South Shore and several public beaches.
Property Highlights
The 220-unit property was built in 2012 by best-in-class developer AvalonBay and features desirable one- and two-bedrooms floorplans, including 78 three-story townhome configurations with attached garages. All floor plans at the property have porches and/or balconies, walk-in closets, and washer/dryer appliances.
Prior ownership completed full renovations on 12 (5%) of the apartment homes, which included stainless-steel appliances, vinyl plank flooring, quartz countertops, tile backsplash, and cabinetry and plumbing upgrades. Additionally, the clubhouse was renovated in July 2020. TruAmerica plans to bring the remaining homes to a higher-end, luxury finish, with the same scope plus two-tone cabinetry, Nest Thermostats, and USB ports in the kitchens. 25% (55 apartment homes) are kept affordable to households earning 80% or less of Area Median Income, under Massachusetts’ 40B program.
TruAmerica will also make select upgrades to the exteriors and amenities, including renovation of the fitness area as well as additional package lockers, upgraded landscaping, and upgraded signage.
Community Amenities
• Resort-style pool
• Courtyard Area with Outdoor Barbeques and Fireplace
• Amazon Package Lockers
• Fitness Center
• Brand New Clubhouse
• Playground
• Ocean Views
• Walking Trail Encircling the Community
• Adjacent to Weir Woods, conservation land with many popular trails
