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Hines Divests Cambridge MF to German Investors
Fuse Cambridge, a 244-unit Class A apartment community located on Cambridgepark Drive in Cambridge, MA, has traded hands. An entity owned by Wafra Residential Value Invest I, a Wafra Investment Advisory Group, Inc. real estate platform for German institutional investors, acquired the asset from Hines for an undisclosed amount.
Fuse Cambridge was completed in 2016, and consists of one six-story building with five levels of apartments over a single level of parking. The community is LEED Silver certified and has a complete amenity package including a sun deck with a heated pool, an outdoor kitchen area, a fitness center and a network lounge.
CBRE’s Simon Butler and Biria St. John represented the seller and procured the buyer.
Butler says, “We are pleased to have facilitated the sale of Fuse Cambridge on behalf of our client who had developed this community and successfully executed on their unique vision for this asset.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition