facebook
Traded Co logo
Submit
Daily limit: 0/10

AEW Capital Management Acquires Hanover Crossing Residences From The Hanover Company For $156M

Property Image
SOLD
$156,000,000
John McLaughlin
Biria St. John
+ 1

Massachusetts

See Similar Deals
MultiFamily
Sold 09/02/2025
the dealplayerscompscontact
Property Image
SOLD

AEW Capital Management Acquires Hanover Crossing Residences From The Hanover Company For $156M

80 Mill Street

See Similar Deals
MultiFamily
Sold 09/02/2025
John McLaughlin
Biria St. John
+ 1
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

80 Mill Street is a multi-family asset located in Hanover, MA. This property features 297 units and was sold for $156,000,000, reflecting a price per unit of $525,253. The asset was constructed in 2023 and is positioned adjacent to the Hanover Crossing shopping center, which spans 720,000 square feet.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $156,000,000
  • Address: 80 Mill Street
  • Market: Hanover, MA
  • Units: 297
  • Price Per Unit: $525,253
  • Seller: Jameson Brown - The Hanover Company
  • Brokers: Simon Butler, Biria St. John, John McLaughlin & Brian Bowler - CBRE

CBRE facilitated the sale of Hanover Crossing Residences, with Jameson Brown from The Hanover Company acting as the seller's representative. The acquisition was made by AEW Capital Management, highlighting the involvement of prominent entities in this transaction.

Players

Simon Butler
33 deals$2.5B volume
BROKER

Biria St. John
CBRE
32 deals$2.5B volume
BROKER

John McLaughlin
CBRE
27 deals$2.3B volume
BROKER

Brian Bowler
CBRE
11 deals$1.1B volume(617) 912-6998
BROKER

CBRE
BROKERAGE


Details

SOLD
IMAGE: Simon Butler, John McLaughlin, Jameson Brown, Biria St. John & Brian Bowler DATE: 09/02/2025 ADDRESS: 80 Mill Street MARKET: Hanover, MA ASSET TYPE: MultiFamily SELLER: Jameson Brown - The Hanover Company (@HanoverCompany) BROKERS: Simon Butler, Biria St. John, John McLaughlin & Brian Bowler - CBRE (@CBRE) SALE PRICE: $156,000,000 UNITS: 297 ~ PPU: $525,253 NOTE: CBRE arranged the $156 million sale of Hanover Crossing Residences, a 297-unit apartment community in Hanover, MA, representing seller The Hanover Company. AEW Capital Management acquired the 2023-built, market-rate property, which is adjacent to the 720,000-square-foot Hanover Crossing shopping center.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$8,320,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$554,235.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$739,519.59
Annual Debt Service$8,874,235.05