CBRE arranges sale of Twenty20 – a 355-unit high-rise apartment community located in East Cambridge

East Cambridge, MA Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler, completed the sale of Twenty20, a 355-unit high-rise apartment community located in the dynamic Cambridge Crossing mixed-use development.

CBRE exclusively represented the seller, an institutional seller, and also procured the buyer, Mesirow. The sale price was not disclosed.

Built in 2015, Twenty20 is a 20-story trophy high-rise community located in the heart of the 4.5 million s/f Cambridge Crossing mixed-use development. The community offers a mix of studios, one, two, three, and four-beds, averaging 807 s/f per unit. In addition to these large floor plans, nine-foot ceilings, and 186 private garage parking spaces, Twenty20 also features 8,625 s/f of retail space. The expansive outdoor, fitness, and other resident-curated amenities throughout the property provide residents with all they need to live a balanced lifestyle. Such amenities include a rooftop terrace, a 3,000 s/f, fully outfitted fitness center and yoga sundeck, pet grooming and bath station, full-time concierge, club room, quiet library, bike garage, and more.

Twenty20 is situated in the dynamic 43-acre Cambridge Crossing mixed-use neighborhood, with nearly two million s/f of occupied life science and big-pharma space, including Sanofi, Bristol Myers Squibb, Philips, AbbVie, and Astellas Pharmaceuticals. Throughout Cambridge Crossing, there are walkable dining options, as well as more than 11 acres of open space, with additional local parks within a short walk. There are also miles of pedestrian trails and dedicated bike lanes throughout the area, providing excellent access to multiple MBTA subway lines and Kendall Square.

“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, chief executive officer and chief investment officer, 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.

“We are pleased to have represented the seller in the sale of Twenty20, an asset they developed in partnership with the original developer in 2015,” said Butler. “The asset offers Mesirow an opportunity to execute their value-add program in one of the most dynamic employment markets in the country.”