CAMBRIDGE, MA- Eaglebrook Capital has acquired a 15 unit mixed-use asset located at 1060 Cambridge St., Cambridge, MA for $5.9 million. The 5-story, 11,055-square-foot building comprises of 13 residential units and 2 commercial units. Eaglebrook plans to reposition the asset through minor renovations and lease up with a targeted stabilization of Q4 2021.
Julian Lewis of Eaglebrook Capital said, “1060 Cambridge Street represents a core plus multifamily investment in one of the nation’s most dynamic markets. Cambridge’s world renowned educational institutions act as a catalyst for the Biotechnology and Life Sciences sectors. The addition of Union Square’s GLX Station later this year will forward the transformation of these neighborhoods and spur further demand for rental housing. This is an exciting addition to our portfolio.”
Listing agent Noemia Alves of ReMax Destiny represented the Seller and Ryan Taylor of Fortune Realty represented Eaglebrook Capital. Financing was provided by East Cambridge Savings Bank. Eaglebrook Capital is a Boston based value-add/opportunistic real estate investment firm that builds, owns and operates multifamily and commercial assets across New England.
