WATERTOWN, MA — CBRE announced that it has arranged the sale of Watertown Mews, a 206-unit apartment community in Watertown, Massachusetts. The CBRE Capital Markets team—led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler—represented the seller, a separate account advised by PGIM, and also procured the buyer, Mesirow.
Completed in 2014, Watertown Mews consists of two four-story residential buildings situated above a single level of garage parking. Offering some of the most spacious apartment homes in the local market, the property features an average unit size of 1,014 square feet and a mix of studio, one-bedroom, two-bedroom, and three-bedroom residences.
Residents have access to an extensive amenity package that includes a community room, business center, media room, large fitness facility, outdoor swimming pool, community garden, beehive, and multiple grilling stations. The community’s shuttle service provides direct access to Watertown Square and Harvard Square, further enhancing connectivity.
Strategically located, Watertown Mews offers convenient access to Boston, Cambridge, Watertown, and Waltham—four of the region’s strongest employment hubs—along with proximity to shopping, dining, and lifestyle amenities throughout the surrounding neighborhoods.
“We are pleased to have represented PGIM in the sale of Watertown Mews, an asset they developed in partnership with the original developer,” said CBRE’s Simon Butler. “The asset offers Mesirow the opportunity to execute on their value-add plan in a dynamic location.”
Alasdair Cripps, Chief Executive Officer and Chief Investment Officer of Mesirow Institutional Real Estate Direct, highlighted the strong fundamentals supporting the acquisition: “We have long-held conviction in Greater Boston’s infill submarkets, where a diversified employment base, limited new supply, and integrated transportation options support durable, long-term rental demand. Watertown Mews exemplifies those strengths—with large-format residences, comprehensive amenities, and immediate access to Boston and Cambridge—providing a strong foundation for us to execute our value-add plan and further elevate the resident experience.”
Terms of the sale were not disclosed.
