CAMBRIDGE, Mass. — CBRE announced the sale of Twenty20, a 355-unit high-rise apartment community located in the heart of the Cambridge Crossing mixed-use development in East Cambridge.
The CBRE team representing the transaction was led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler. The firm exclusively represented the institutional seller and also procured the buyer, Mesirow.
Originally built in 2015, Twenty20 is a 20-story, trophy-class residential tower situated within the 4.5 million-square-foot Cambridge Crossing development. The property features a mix of studio, one-, two-, three-, and four-bedroom apartments, with units averaging 807 square feet. Residences offer nine-foot ceilings and access to 186 private garage parking spaces, along with 8,625 square feet of ground-floor retail space.
The community includes a wide array of amenities designed to support a balanced urban lifestyle. These include a rooftop terrace, a 3,000-square-foot fully equipped fitness center with a yoga sundeck, a pet grooming and bathing station, a full-time concierge, club room, quiet library, bike garage, and additional resident-focused spaces.
Twenty20 sits within the 43-acre Cambridge Crossing neighborhood, which includes nearly two million square feet of occupied life science and pharmaceutical space. Major tenants in the development include Sanofi, Bristol Myers Squibb, Philips, AbbVie, and Astellas Pharmaceuticals. The area also features more than 11 acres of open space, nearby parks, walkable dining options, pedestrian trails, and dedicated bike lanes. The property offers convenient access to multiple MBTA subway lines and is located near Kendall Square, one of the nation’s leading innovation hubs.
“We are pleased to invest in Twenty20, a well-located community in Cambridge, in the heart of Boston and one of the country’s most dynamic innovation corridors,” said Alasdair Cripps, Chief Executive Officer and Chief Investment Officer of Mesirow Institutional Real Estate Direct. “Its strong fundamentals, proximity to leading educational and medical institutions, and excellent connectivity make it an ideal fit for our value-add platform.”
Simon Butler of CBRE noted the significance of the transaction. “We are pleased to have represented the seller in the sale of Twenty20, an asset they developed in partnership with the original developer in 2015,” Butler said. “The asset offers Mesirow an opportunity to execute their value-add program in one of the most dynamic employment markets in the country.”
The sale underscores continued investor interest in well-located multifamily assets within Greater Boston’s core innovation markets, particularly those positioned within mixed-use districts anchored by life science and technology employers.
