Richard Price Of Mesirow Financial Acquires MultiFamily Property From PGIM Real Estate For $218M

The multi-family asset located at 20 Child Street in Cambridge was sold for $218 million. This 355-unit luxury community, known as Twenty20, is part of the Cambridge Crossing development and has a per unit price of $614,085. The property is currently 96% occupied and offers extensive amenities.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $218,000,000
• Buyer: Richard Price - Mesirow Financial
• Seller: Cathy Marcus & Raimondo Amabile - PGIM Real Estate
• Broker Representatives: Simon Butler, Biria St. John, John McLaughlin & Brian Bowler - CBRE
• Units: 355
• PPU: $614,085

Mesirow Financial acquired the property from PGIM Real Estate, which originally purchased it in 2015 for $197 million. CBRE facilitated the transaction, connecting the buyer and seller in the competitive Cambridge market.