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Barings Provides $77M for Goldman Sachs to Acquire Multifamily in Hingham
Barings has provided a $76.9 million financing package for Goldman Sachs Asset Management’ acquisition of The Cove, a 220-unit suburban apartment community in Hingham, MA.
“This investment is consistent with Barings’ core multifamily investment strategy, which focuses on providing capital for new assets in vibrant suburban locations, especially certain developments in coastal market locations with high ownership costs,” said Jonathan Neff, director with Barings.
CBRE advised Goldman Sachs on the financing.
The Cove opened in phases between November 2019 and April 2020 and is currently 92% occupied. The property consists of two, four-story residential buildings with elevator service and underground parking. It is accessible to Bare Cove Park’s extensive network of waterfront parks and trails and is in close proximity to the Hingham Shipyard.
- ◦Sale/Acquisition
- ◦Financing
