CBRE Arranges Sale of 295-Unit Strata, Malden, MA.

Today, representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler, announced the sale of Strata, a 295-unit, 100% market-rate apartment community in Malden, Massachusetts.

CBRE exclusively represented the seller, an affiliate of Portland, OR-based The Green Cities Company. CBRE also procured the buyer, an institutional investor.

Built in 2000, Strata comprises a single five-story elevator building and is 100% market rate. The community is located just north of Boston off Route 1, providing easy access to numerous employment centers. The property has a combination of classic and renovated studios, one-, two- and three-bedroom units with an average home size of 892 square feet. The property has undergone some significant improvements recently, with a refreshed expansive amenity offering including a resident lounge, private work pods/workstations, fitness center, and expansive outdoor amenities.

CBRE’s Simon Butler said, “We are pleased to have represented the Green Cities Company in the sale of Strata. The seller was able to successfully execute their business plan, having acquired the community in 2021. The property offers the buyer the opportunity to continue the value-add strategy and acquire an asset at a significant discount to replacement with good proximity to Boston.”