Boston-based Berkeley Investments has bought a 171-unit apartment intricate in Charlestown to a Denver genuine estate financial commitment business for $96.3 million.
EverWest Serious Estate Investors now owns The Graphic Lofts at 32 Cambridge St. in Sullivan Sq., which opened in 2019.
Sullivan Square is viewing a flurry of development action, like proposals for a massive mixed-use venture from Increase With each other and Trax Advancement as well as a lab-and-office environment facility from The Fallon Co. The sophisticated is situated near the Sullivan Square Orange Line MBTA station.
“Our thesis is, it is a fantastic physical asset and residence, currently operating at a extremely significant level, and we imagine that marketplace is going to continue to materially boost,” mentioned Mark Bigarel, executive vice president and head of acquisitions at EverWest.
The two-constructing complex contains a just about 6,000-sq.-foot retail place leased to Basis Kitchen, which programs to open a cafe, wine bar and food hall there in the coming months, according to Bigarel.
“That was a massive offering position of the deal for us, mainly because we were so energized about that amenity,” he said.
CBRE’s Simon Butler, Biria St. John and John McLaughlin represented Berkeley in the offer.
EverWest has other qualities in the Boston area, such as 50 Congress St. and 10 Liberty Square/12 Put up Office environment Sq., and A single Bulfinch Area in downtown Boston, in accordance to its web site.