WAKEFIELD, MA–Cabot, Cabot & Forbes and Equity Residential have begun the building of a lakefront 440+ unit multifamily community development in Wakefield, MA.
The groundbreaking ceremony was held on June 18, 2024. The Basin Development is located on a 24-acre site at 200 Quannapowitt Parkway in Wakefield.
Denenberg Realty Advisors represented both the seller, Waterstone Wakefield, LLC, and procured the buyers Cabot, Cabot & Forbes and Equity Residential. Both parties worked very closely to put this deal together.
The project sits at the northern end of Lake Quannapowitt, a popular regional outdoor destination offering visitors a quiet, bucolic lake setting where many enjoy walking, jogging, and biking. A 3.5-mile paved loop encircling the 250-acre lake provides a natural amenity base for residents to enjoy these popular outdoor activities.
Neil Denenberg, president of Denenberg Realty Advisors, stated: “It was a thrill to attend the ground-breaking ceremony and see the development under construction. This project took over two years to get started. Town & State officials, the Friends of Lake Quannapowitt, Cabot, Cabot & Forbes/Equity Residential, Callahan Construction as well as Residents all attended the ceremony.”
