Mesirow Acquires Residential High-Rise in Cambridge Crossing
(Updated with additional information)
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler closed the sale of Twenty20, a 355-unit high-rise apartment community located in the Cambridge Crossing mixed-use development in East Cambridge, MA. Although terms were not disclosed, the Boston Business Journal reported the sale price as $218 million. CBRE represented the institutional seller and also procured the buyer, Mesirow.
Built in 2015, Twenty20 stands 20 stories tall. The surrounding Cambridge Crossing mixed-use neighborhood contains nearly two million square feet of occupied life science and big-pharma space, with tenants including Sanofi, Bristol Myers Squibb, Philips, AbbVie and Astellas Pharmaceuticals.
“We are pleased to invest in Twenty20, a well-located community in Cambridge, in the heart of Boston and one of the country’s most dynamic innovation corridors,” said Alasdair Cripps, CEO and CIO, Mesirow Institutional Real Estate Direct. “Its strong fundamentals, proximity to leading educational and medical institutions, and excellent connectivity make it an ideal fit for our value-add platform.”
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