January 5, 2021
International genuine estate business Gazit Horizons has actually gotten 1430 Massachusetts Avenue, a 50,000 square foot mixed usage building on the corner of Massachusetts Avenue and Church Street in the Harvard Square area of Cambridge. The list prices was $45 million.
The residential property, which is referred to as University Home, goes back to the 1830s as well as was originally a Harvard graduate student dormitory. The building is currently occupied by retail and also office, consisting of Harvard University, on the top floorings. Gazit plans to apply a resources enhancement strategy to restore the lobby, workplace typical areas, as well as building systems. Retail lessees CVS as well as Santander Financial institution are expected to abandon in 2021, which will certainly permit Gazit to reposition the retail portion of the room.
Brian Doherty and Dave Pergola of Cushman & & Wakefield represented the seller in the off-market purchase, College Common Realty, which had had the residential property for even more than fifty years. Hingham Institution for Savings gave acquisition financing for Gazit Horizons.
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