Updated Aug 15, 2025
Equity Residential Sells Gateway At Malden Center Multifamily In Malden Massachusetts For $97 Million
14 Summer Street
$97,000,000
Units
200
Asset Type
MultiFamily
Closing
Aug 15, 2025
About this deal
AI
The multi-family asset located at 14 Summer Street in Malden, MA was sold for $97 million. The complex, known as Gateway at Malden Center, is comprised of over 200 units and was constructed in the 1980s. It offers studio to two-bedroom units featuring high-end finishes.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $97,000,000
- Seller: Mark J. Parrell
- Seller's Company: Equity Residential
- New Property Name: Arrive Malden
- Market: Malden, MA
Mark J. Parrell represented the seller, Equity Residential, in this transaction. The deal reflects the ongoing demand for multi-family properties in the Malden market.
Malden MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93