NAI Hunneman’s Capital Markets Group Brokers $8.7 Million Multifamily Portfolio Sale
Christie, McGee & Lieber Represent Seller & Procure buyer in Sale of 23-units in Cambridge’s Central Square Neighborhood
BOSTON—NAI Hunneman, a leading provider of commercial real estate services, recently brokered the $8.7 Million sale of a 23-unit multifamily portfolio located 131-157 Columbia Street, 200 Harvard Street, and 220-222 Prospect Street in the Central Square neighborhood of Cambridge.
Executive Vice President Carl Christie, assisted by Assistant Vice Presidents Dan McGee and Henry Lieber represented the seller Columbia LLC and procured the buyer Columbia Prospect Family L.P.
“The sale drew significant interest from middle market investors, due to the rather rare opportunity to establish an ownership interest in one of the most sought after neighborhoods in Cambridge,” said Christie. “In the last 2 years there have only been 6 apartment sales in Cambridge over 20 units, almost all being larger institutional sales ranging from $30-$200 million. There have not been many comparable buying opportunities for assets of this size.”
The portfolio consists of 137-151 Columbia Street & 200 Harvard Street; a seventeen (17) unit mixed-use building located on the corner of Columbia and Harvard Street within walking distance of Central Square. The building includes four (4) street-level commercial stores and thirteen (13) apartment units. The other property, 220-222 Prospect Street, is a 6-unit apartment building located between Central Square and Inman Square. Both sites are only 0.4 miles (8 minute walk) from each other.
About NAI Hunneman:
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network please visit www.naihunneman.com