The Hamilton Company has announced the purchase of Oakley Court in Watertown, a 29-unit apartment building at 550 Belmont Street. The purchase price was $3.2 million. The acquisition is Hamilton’s fifth this year, bringing the company’s total purchases to $129.5 million.

“This property is uniquely located and boasts generous living space, a parking garage and  immediate MBTA access,” said Carl Valeri, President and Chief Operating Officer of The Hamilton Company. “The property’s condition will fit well with our other 180 units we own and manage in Watertown.”

Valeri and Sally Michael of Saul Ewing coordinated the cash transaction on behalf of The Hamilton Company.
Oakley Court was originally built in 1942 by James H. Carrig, whose family held the property for 71 years. Upon formal completion of the acquisition, the property will be renamed Hamilton Court, according to Harold Brown, founder and Chairman of Hamilton Company.

“Watertown is a great, vibrant community,” said Brown. “Our newest acquisition is perfectly situated and brings our total number of units in the town to 209. I couldn’t be more pleased.” 

The purchase of Oakley Court continues an active acquisition period for The Hamilton Company in 2013. Other purchases this year include the Douglas Apartments in Boston ($42 million), Windsor Green in Andover ($62. Million), a development parcel at 441 River Street parcel in Waltham ($2.4 million); and 41,000 square feet of retail space in Boston ($8.9 million).
               
The Hamilton Company is a full service real estate management and development company located in Allston. Privately owned, Hamilton will be celebrating its 60th year in business in 2014. The Hamilton Company owns and manages in excess of 5,200 residential units and nearly two million square feet of commercial property in and throughout Greater Boston.