The group of movie lovers that that owns and runs the Somerville Theatre and Arlington Capitol Theatre has bought the 49-55 Davis Square building hosting the Somerville Theatre, its Crystal Ballroom event space and the Mr. Crepe restaurant and offices.
The sale price was $12 million, according to Hunneman, the broker.
The news was announced via a $90,000 crowdfunding campaign created Oct. 7 and confirmed by staff and Hunneman after the transaction was recorded officially in the afternoon. The group says it has also negotiated a new 20-year lease in Arlington, which has not been bought – so the lease agreement is with the sellers, the Fraiman family…