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Boston & New England  + Metro Boston  + Apartments  | 

Praedium Group Acquires Four-Building Beverly Apartment Portfolio

A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler arranged the sale of The Beverly Crossing Portfolio, a four-property, 394-unit apartment portfolio located in Beverly, MA. The seller was locally based Beverly Crossing and the buyer was New York-based real estate investment firm The Praedium Group. Pricing wasn’t disclosed.

Built between 2017 and 2023, the portfolio consists of four separate residential buildings: The Block, Canvas, Link 480 and Flats at 131, along with 26,000 square feet of ground-floor retail. It’s adjacent to an MBTA commuter train station, which offers access to Boston in as little as 30 minutes.

St. John said, “We are pleased to have represented the seller in the sale of The Beverly Crossing Portfolio. It is a truly unique collection of assets in the thriving downtown Beverly neighborhood. The buyer is well-positioned to execute their business plan and realize the benefits of this highly walkable, transportation-oriented asset with strong sub-market fundamentals.”

Pictured: The Block.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition