A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler closed the $37.8-million sale of 3200 Washington, a 73-unit apartment complex in Jamaica Plain. The team represented the seller, 3200 Washington, LLC, an affiliate of Boston-based Berkeley Investments, and procured the buyer, FCREF 3200 Washington, LLC.
3200 Washington was built in 2019 and includes a five-story building and a six-story one. It offers a mix of studios, one-bedroom, two-bedroom and three-bedroom apartments, with an average size of 809 square feet. The community also includes two commercial suites leased to Drawdown Brewery and Glenvale Solar. The asset was built to LEED Gold standards.
Butler said, “Berkeley was successful in delivering a high-quality boutique apartment community in the dynamic Jamaica Plain submarket. The property offers the buyer the ability to earn strong long-term returns.”
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