Cohasset, MA – CBRE announced that it has arranged the sale of Avalon Cohasset, a 220-unit multifamily community located at 155 King Street in Cohasset, Massachusetts, one of the most affluent communities in the state.
CBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. John and John McLaughlin exclusively represented the seller, Avalon Bay Communities, and also procured the buyer, TruAmerica Multifamily, in their first acquisition in the Boston market.
Avalon Cohasset is comprised of 220-direct entry townhomes spread over 61-acres of 34 separate, two and three-story buildings, as well as an expansive clubhouse, free-standing garage and maintenance shop. The community offers 14 different unit styles including one and two-bedroom flats, lofts and townhomes with an average unit size of 1,333 square feet. The property features include a clubhouse with resident amenities, including an outdoor pool, fitness center and community room.
Avalon Cohasset is strategically located just off Route 3A, offering convenient access to numerous employment centers throughout the Boston Metro and major employment along southern Route 128/I-93. Additionally, the property is less than a half-mile from the Cohasset commuter rail station, offering direct service to Boston’s South station, and less than six miles from the Hingham Shipyard and the ferry that goes directly to Boston’s Rowes Wharf.
“We are pleased to have represented Avalon Bay in the sale of Avalon Cohasset, a truly unique community with direct entry units,” stated CBRE’s Simon Butler.
“Avalon Cohasset provides TruAmerica with the unique opportunity to generate strong long-term returns given the strategic location coupled with the quality of the asset, value add opportunity and lack of new supply in the market,” added CBRE’s Biria St. John.
