Batch Yard Developments Sells to Chicago Company for $145 Million

The Batch Yard on Lower Broadway has been sold to a Chicago company for $144.95 million, according to property records from Banker & Tradesman.

Post Road Residential of Fairfield – the owner of the Batch Yard – passed papers on Oct. 1 to sell four parcels of land to Mesirow Financial of Chicago for $144,949,999.

The property management company, The Bozzuto Group, will remain the same.

The sales price for the recently-completed loft apartment complex certainly turns heads and, to many, signaled the beginning of what is expected to be a major upswing in property values on Lower Broadway. That, of course, has a lot to do with the impending Wynn Everett casino.

The sales price is likely a record for residential property in Everett.

The Batch Yard is a 328-unit, luxury apartment community that opened in late August 2014, and nearly a quarter of the units are already claimed.

Construction on the apartment community completed in March 2015.

Mesirow is an independent diversified financial services firm. The company has 1,200 employees and has been in business since 1937. It reports capital figures of $367 million and revenues totaling $469 million for this fiscal year.

It had $94.9 billion in assets under management as of Sept. 30.

A spokesperson for Mesirow did not return several phone calls from the Independent in time for this story.

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