CAMBRIDGE, MASS. — Marcus & Millichap has brokered the $5 million sale of a nine-unit apartment building in Cambridge, located across the Charles River from Boston. The three-story building at 323-327 Columbia St. was constructed in 1920 and offers two- and three-bedroom units. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the off-market transaction.
MEDFORD, MASS. — A public-private partnership between Capstone Development Partners and Tufts University has broken ground on a 664-bed residence hall on the university’s campus in Medford, located north of Boston. The site is situated along the edge of campus adjacent to the Medford/Tufts Green Line public transportation station and previously housed a surface level parking lot. The complex will span 271,000 square feet across two 10-story buildings that will offer 271 apartment-style units in studio, two-, four- and six-bedroom configurations. Shared amenities will include common rooms and lounges, a fitness center, study spaces, conference rooms and onsite laundry facilities, as well as 4,000 square feet of retail space. Project partners include Provident Resources Group, Elkus Manfredi Architects, Erland Construction, Steven Winter & Associates and Barclays. Completion is slated for fall 2027.
NEWTON, MASS. — MassDevelopment has provided $134.8 million in tax-exempt bond financing for Lasell Village, a seniors housing community located in the western Boston suburb of Newton. The owner, an entity doing business as Lasell Village Inc., will use the proceeds to renovate and expand the property. Regarding the renovation aspect of the deal, ownership plans to revamp its main building by adding seven supported living units and modernizing its skilled nursing program to include all-private rooms. Regarding the expansion, ownership has purchased a 1.4-acre tract with plans to construct a new building with 42 independent living units, a bistro, fitness and wellness centers, a multi-purpose room and common spaces.
BOSTON — PGIM Real Estate has provided $132 million in financing for The Viridian, a 342-unit multifamily property in Boston’s Fenway neighborhood. The Viridian offers studio, one-, two- and three-bedroom units, as well as penthouses, that are furnished with floor-to-ceiling windows, designer kitchens, spa-inspired baths, walk-in closets and Juliet balconies. Amenities include two rooftop decks with outdoor lounges, a fitness center and coworking and social lounges. Amy Lousararian, Madeline Joyce and Michael Schwarze of JLL arranged the floating-rate financing on behalf of the owner, The Abbey Group.
BEVERLY, MASS. — A partnership between two nonprofit owner-operators, Beacon Communities ad Harborlight Homes, has completed a multifamily adaptive reuse project in Beverly, a northeastern suburb of Boston. Beverly Village for Living & The Arts is a redevelopment of the former Briscoe School, which was originally built in 1923 and closed in 2018, into an affordable seniors housing complex. Of the complex’s 91 units, 85 are subject to income restrictions, while the other six units will be rented as live-work studios at market rates. The conversion involved preserving historic elements of the building, such as the windows and façade, while also installing sustainable utility systems.
MAYNARD, MASS. — Tractor Supply Co. will open a 21,840-square-foot store in Maynard, about 25 miles west of Boston. Tractor Supply will be the first retailer to open at 17 Digital Way, the final building within Maynard Crossing, a mixed-use development that comprises 11 buildings across 56 acres. A tentative opening date was not disclosed. Locally based development and investment firm Capital Group Properties owns Maynard Crossing.
EVERETT, MASS. — Greystar has begun leasing Jade, a 325-unit apartment community in the eastern Boston suburb of Everett. Jade offers studio, one-, two- and three-bedroom units that are furnished with oversized windows, stackable washers and dryers, quartz countertops, built-in pantries and spa-like bathrooms. Amenities include a music room with recording equipment, a fitness center with a yoga studio, coworking pods and a conference room, pet spa, clubroom, two courtyards, a pool and outdoor grilling and dining stations. Rents start at $2,295 per month for a studio apartment.
ASHLAND, MASS. — JLL has brokered the $27.9 million sale of a 218,316-square-foot industrial property in Ashland, a western suburb of Boston. The property consists of two buildings on an 18-acre site that were fully leased at the time of sale to fire suppression systems manufacturer Kidde-Fenwal. Michael Restivo, Bob McGuire, Sam Crossan, David Coffman and Tommy Hovey of JLL represented the private seller in the transaction. The buyer was locally based investment firm Rhino Capital Advisors.
BOSTON — A partnership between local nonprofit organization Castle Square Tenants Organization (CSTO) and regional owner-operator WinnDevelopment has begun the $40 million repositioning of Eva White Apartments, a 102-unit affordable housing complex in Boston’s South End. The project will encompass upgrades to unit interiors and the creation of new amenity spaces, as well as energy system retrofits to the property’s two seven-story buildings. Specifically, each of the property’s 34 studios, 57 one-bedroom units and 11 two-bedroom units will be improved with modern kitchens, bathrooms and living room flooring. New health and wellness spaces and a new fitness room will be created for residents. The current common laundry room, community room and management office will also be renovated. Bank of America, MassHousing and Citizens Bank are financing construction, with BoA also serving as the federal Low-Income Housing Tax Credit investor. Completion is scheduled for 2026. Eva White Apartments originally opened in 1967 and serves seniors and people with disabilities. The Boston Housing Authority holds a 99-year ground lease on the complex, which protects the property’s long-term affordability status. CSTO became the 99 percent owner of the property in December after securing the financing for the project. This venture marks the organization’s …
CAMBRIDGE, MASS. — Marcus & Millichap has brokered the $6.6 million sale of Ellery Apartments, a 14-unit multifamily building in Cambridge, located across the Charles River from Boston. Originally constructed in 1880, the three-story building at 84-86 Ellery St. houses four studios and 10 one-bedroom units. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller, a private family, in the transaction and procured the buyer. Both parties requested anonymity.