Hines Sells 244-Unit LEED-Certified Cambridge Community
- Mar 27, 2018
An entity owned by Wafra Residential Value Invest I—a Wafra Investment Advisory Group Inc. real estate platform for German institutional investors—has acquired Fuse Cambridge, a 244-unit residential asset in Cambridge, Mass., from Hines. CBRE/New England’s Capital Markets team represented the seller and procured the buyer of the Boston-area Class A community.
The property is located in the northeastern part of Cambridge, adjacent to the MBTA Alewife Red Line Station, offering easy access to routes 2 and 3. Completed in 2016, the six-story building comprises five levels of residential space, positioned on top of a single-story parking area.
The LEED Silver-certified asset features 40 studios, 100 one-bedroom, 15 one-bedroom plus den, 80 two-bedroom and nine three-bedroom apartments. The average unit size is roughly 827 square feet. Common-area amenities at Fuse Cambridge include:
- sun deck with heated pool
- outdoor kitchen area with gas barbecue grills
- fitness center
- yoga/training room
- network lounge with separate conference room
- indoor living green wall
CBRE/NE multifamily experts Simon Butler and Biria St. John, both vice chairmen & partners, lead the brokering team.
Images courtesy of CBRE and Yardi Matrix