Boston– CBRE/New England’s Capital Markets team announced the sale of Troy Boston, a 378-unit, Class A apartment high-rise community located in Boston, Massachusetts. CBRE/NE exclusively represented a fund advised by Portland, Oregon-based Gerding Edlen and procured the buyer, Equity Residential.
CBRE/NE’s multi-housing experts Simon Butler and Biria St. John exclusively represented the seller.
“We are pleased to have facilitated this transaction on behalf of Gerding Edlen who saw the vision for what this part of the South End could be. It was a transformative development that completely changed the neighborhood into a vibrant mixed-use neighborhood,” said CBRE/NE’s Butler. “Troy Boston is located in Boston’s dynamic South End neighborhood and represents a best-in-class asset with a cutting-edge design, breathtaking views of the city and exceptional access to downtown Boston, Back Bay and South Boston.”
Troy Boston opened in March 2015 and consists of one 19-story high-rise apartment tower, a second 11-story mid-rise apartment tower with numerous amenity spaces and a four-story parking garage. The unit mix is comprised of 81 studios, 171 one-bedroom apartments, 42 one-bedroom plus den apartments, 34 two-bedroom 1.5-bath apartments and 50 two-bedroom two-bath apartments with an overall average unit size of approximately 630 SF.
The community is certified to LEED® Gold standards. The property has a walk score of 96 and is located less than 0.5 miles from both the MBTA Red and Orange Lines.