Goldman Sachs Acquires Hanover North Cambridge Building For $182M

The Hanover Co. has completed the sale of its 294-unit Hanover North Cambridge building located at 50 Cambridgepark Drive in Cambridge, MA. The property was acquired for $182 million by an entity affiliated with Goldman Sachs, known as 50 CPD Owner LLC.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $182,000,000
• Address: 50 Cambridgepark Drive, Cambridge, MA
• Market: Cambridge, MA

The Hanover Co. strategically chose to sell the Hanover North Cambridge building as part of its investment in the Alewife neighborhood in Cambridge. The sale was made to 50 CPD Owner LLC, an entity affiliated with Goldman Sachs.