CBRE has arranged the $95.5 million sale of Strata, a 295-unit, market-rate multifamily community in Malden.
Located at 500 Broadway in Malden, the community is spread across more than eight acres and consists of a single five-story elevatored building. The unit mix includes studio, one-, two- and three-bedroom units with an average size of 892 square feet. The seller, Boston-based Taurus Investment Holdings, had extensively renovated the amenities as part of its business plan. The community now features an outdoor pool, outdoor space with multiple grilling areas, a firepit and a fitness center. Taurus had also renovated 124 of the units during ownership.
Simon Butler, Biria St. John and John McLaughlin of CBE represented Taurus in the sale. The buyer was an affiliate of The Green Cities Company of Portland, OR.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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