Wakefield, MA Neil Denenberg, president of Denenberg Realty Advisors, attended the ground-breaking ceremony for The Basin Development located on a 24-acre site at 200 Quannapowitt Pkwy.

Denenberg Realty Advisors, represented both the seller, Waterstone Wakefield, LLC, and procured the buyers Cabot, Cabot & Forbes and Equity Residential. Both parties worked closely to put this deal together.

Denenberg said, “It was a thrill to attend the ground-breaking ceremony and see the development under construction. This project took over two years to get started. Town and state officials, the Friends of Lake Quannapowitt, Cabot, Cabot & Forbes/Equity Residential, Callahan Construction as well as residents all attended the ceremony.”

The buyers Cabot, Cabot & Forbes and Equity Residential have begun the building of this lakefront 440-unit multi-family community development. The project sits at the northern end of Lake Quannapowitt, a regional outdoor destination offering visitors a lake setting where many enjoy walking, jogging, and biking. A 3.5-mile paved loop encircling the 250-acre lake provides a natural amenity base for residents to enjoy outdoor activities.