Butler, St. John, McLaughlin, and Bowler of CBRE complete sale of Watertown Mews

Watertown, MA Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler, completed the sale of Watertown Mews, a 206-unit apartment community.

CBRE exclusively represented the seller, a separate account advised by PGIM and also procured the buyer, Mesirow.

Watertown Mews was completed in 2014 and comprises two residential buildings with four
stories above a single level of garage parking. Watertown Mews offers some of the largest apartment homes in the market, with an average size of 1,014 s/f, with a mix of studios, one-bedroom, two-bedroom, and three-bedroom apartments. The community has an expansive amenity package including a community room, business center, media room, gym, outdoor pool, community garden, beehive, and numerous grilling stations.

The property provides access to numerous different employment centers, including Boston, Cambridge, Watertown, and Waltham, as well as ample retail and dining amenities in town and the surrounding communities. The property also offers a shuttle service with direct access to Watertown Sq. and Harvard Sq. in Cambridge.

Butler said, “We are pleased to have represented PGIM in the sale of Watertown Mews, an asset they developed in partnership with the original developer. The asset offers Mesirow the opportunity to execute on their value-add plan in a dynamic location.”

“We have longheld conviction in Greater Boston’s infill submarkets, where a diversified employment base, limited new supply and integrated transportation options support durable, longterm rental demand,” said Alasdair Cripps, Chief Executive Officer and Chief Investment Officer, Mesirow Institutional Real Estate Direct. “Watertown Mews exemplifies those strengths—with largeformat residences, comprehensive amenities, and immediate access to Boston and Cambridge—providing a strong foundation for us to execute our valueadd plan and further elevate the resident experience.”