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Gazit Horizons Snags Harvard Square MXU Property for $45M

Global real estate company Gazit Horizons has acquired 1430 Massachusetts Avenue, a 50,000 square foot mixed use building on the corner of Massachusetts Avenue and Church Street in the Harvard Square area of Cambridge. The sales price was $45 million.

The property, which is known as College House, dates back to the 1830s and was originally a Harvard graduate student dormitory. The building is now occupied by retail and office, including Harvard University, on the upper floors. Gazit intends to implement a capital improvement plan to renovate the lobby, office common areas, and building systems. Retail tenants CVS and Santander Bank are expected to vacate in 2021, which will allow Gazit to reposition the retail portion of the space.

Brian Doherty and Dave Pergola of Cushman & Wakefield represented the seller in the off-market transaction, University Common Real Estate, which had owned the property for more than fifty years. Hingham Institution for Savings provided acquisition financing for Gazit Horizons.

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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