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CAMBRIDGE, MASS. — Locally based developer Cabot, Cabot & Forbes has acquired a 66,964-square-foot industrial flex property located at 67 Smith Place in Cambridge for $49.6 million. The site is adjacent to The Quad, the firm’s master-planned development that includes 485 multifamily units, 60,000 square feet of retail space and 575,000 square feet of lab space. Cabot, Cabot & Forbes raised $21 million on CrowdStreet to help fund the acquisition and will implement a capital improvement program.