Waltham, MA – Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler, announced the sale of Strata, a 295-unit, 100% market rate apartment community in Malden, Massachusetts.
CBRE exclusively represented the seller, an affiliate of Portland, OR-based The Green Cities Company. CBRE also procured the buyer an institutional investor.
Built in 2000, Strata is comprised of a single five-story elevatored building and is 100% market rate. The community is located just north of Boston off Route 1, providing easy access to numerous employment centers.
The property has a combination of classic and renovated studios, one-, two- and three-bedroom units with an average home size of 892 square feet. The property has undergone some significant improvements recently with a refreshed expansive amenity offering including resident lounge, private work pods/workstations, fitness center, and expansive outdoor amenities.
