55-Plus Easton Apartment Complex Finds Institutional Buyer
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler closed the sale of Zen Easton, a 99-unit, 55-plus apartment community in Easton, MA. Although CBRE did not disclose the sale price, published reports put it at $33 million.
CBRE represented the seller, an affiliate of San Francisco-based FPA Multifamily, LLC. CBRE also procured the buyer, an unnamed institutional investor.
Built in 2003, Zen Easton consists of a single three-story elevatored building within the larger Queset Commons, a 30-acre mixed use development that includes two restaurants: Giana Restaurant & Bar and the Stoneforge Grill. The property has a combination of classic, renovated studio, one- and two-bedroom units with an average size of 798 square feet. The property offers numerous amenities including a resident social lounge, dining hall and catering kitchen, cyber lounge, fitness center, library, two theater rooms, large storage lockers and ample outdoor space.
Other News
Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
Revere, MA Weighs 1,700-Unit Housing Project
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout