Mesirow Acquires Luxury Boston Community for $218M
The property traded for $197 million over a decade ago.
Mesirow Financial has acquired Twenty20, a 355-unit luxury community in East Cambridge, Mass., two miles outside of Boston. PGIM Real Estate sold the asset, according to Yardi Matrix. CBRE represented PGIM in the transaction and secured the buyer.
The asset sold for $218 million, according to the Middlesex South Registry of Deeds, contributing to the area’s strong multifamily transaction volume. PGIM previously purchased the property in 2015 from Canyon Capital Realty Advisors for $197 million, Yardi Matrix shows.
Twenty20 features floorplans ranging from studio to four-bedrooms. The average apartment measures 807 square feet and includes in-unit washers and dryers as well as 9-foot ceilings. Shared amenities at Twenty20 include a fitness center, a clubhouse, a media room, a basketball court, a rooftop, a library and pet facilities including a grooming and washing station. The community features an 186-spot parking garage and 8,625 square feet of retail space.
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Twenty20 is part of the larger Cambridge Crossing mixed-use development, with more than 2 million square feet of life science space. The neighborhood features 11 acres of open space across the larger development. Across the street is the Common at CX, a public greenspace.
Yardi Matrix shows that Twenty20 is 96 percent occupied. CBRE’s team of Simon Butler, vice chairman & managing director; Biria St. John, vice chairman; John McLaughlin, senior vice president and Brian Bowler, vice president, represented PGIM in the sale.
Located at 20 Child St. in Cambridge, Mass., Twenty20 is near Interstate 93 with access to Boston. Nearby are public transit options such including the MBTA subway lines. The community is also within walking distance of various retail and dining options.
Mesirow investing across the U.S.
The Twenty20 acquisition represents Mesirow’s latest multifamily purchase. In May 2025, the company closed its Mesirow Financial Real Estate Value Fund V with $1.3 billion in investor commitments. This vehicle is focused on the acquisition of underperforming Class A assets. Its previous investment vehicle capped at $750 million in 2021.
Following the closing of this vehicle, Mesirow purchased Gramercy Square at Ayrsley in Charlotte, N.C., in July 2025. The company bought the community for $83.7 million from Simpson Housing.
This past December, the company made an additional purchase in Plano, Texas when it bought Riachi at One21, a 450-unit property, .
