Colliers International Multi-Family Investment Sales team is pleased to announce the listing of the Cambridge Portfolio, an eight-building portfolio located in the Harvard Square, Mid-Cambridge, Cambridgeport, and East Cambridge neighborhoods of Cambridge, MA. The Colliers Multi-Family Investment Sales team is led by Christopher Sower and includes Jen Price, Jonathan Bryant, and Maggie Collins.
Located within 4 residential neighborhoods of Cambridge, the Cambridge Portfolio consists of 41 units across 8 buildings and provides value-add and redevelopment opportunities at select buildings. This 100% occupied portfolio draws on the strength in local universities, bio-technology and pharmaceutical industries.
With limited supply and pent-up demand, the Cambridge housing market is seeing increasing residential rents and a strong tenant base. Additionally, the Cambridge condominium market has seen a year over year price increase of 44.8% with average new construction selling for over $660/SF.
The existing tenant base is driven by Harvard University and Massachusetts Institute of Technology. These thriving universities demand off-campus housing for over 10,500 students per year, with significant growth projected into the future. The Kendall Square employment base draws additional tenant base through the strong technology and bio-pharma industries.
Christopher Sower, Senior Vice President of Colliers’ Boston, stated of the sale, “A portfolio of this size and scale is rarely available in Cambridge. This offering provides investors with immediate economies of scale in one of the country’s most sought after residential markets. We expect to see strong activity for this listing.”
The Cambridge Portfolio is available on an unpriced basis. Additional due diligence materials are available for qualified buyers. We will be conducting tours of the portfolio in the coming weeks with a call for offers to follow. Portfolio and individual offers will be entertained.
About Colliers
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,100 professionals operating from 554 offices in 66 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
Contact Maggie Collins for additional information at 617-330-8013 or maggie.collins@colliers.com.
