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News release

Boston

Boston’s Defining Luxury Multifamily Building Trades 

JLL completes sale of Hanover CambridgePark


​With the tech, medical and education industries continuing their incredible momentum, Boston's multifamily market is seeing massive demand for new, luxury product. On behalf of the Hanover Company, JLL's Capital Markets experts today announced the firm completed the sale of Hanover CambridgePark. GID purchased the 398-unit, ultra-luxury asset.

Managing Directors Travis D’Amato and Michael Coyne led the JLL team on the sale.

"Cambridge's Booming Kendall Square and huge job growth continue to push demand for transit-oriented multifamily assets with luxury amenities," said D'Amato. "Hanover CambridgePark provides in-unit and community amenities on par with the top developments in the country, and occupies a transit-oriented location that offers residents the ultimate live-work-play experience."

Completed in the spring of 2015, the LEED Gold certified building features units that include luxurious touches such as granite slab countertops, high ceilings, engineered hardwood flooring, EnergyStar rated appliances, bathrooms with marble vanities and oval soaking tubs, and terraces or balconies. Community amenities include a state-of-the art fitness center, private yoga studio, a resident club the features billiards and HDTV, and a private entertainment theater. The building's exterior features a courtyard with grilling areas, a resort-style pool, outdoor lounge complete with televisions, and a designated pet-washing station.

Located less than five minutes from the MBTA Red Line, Hanover CambridgePark is just 17 minutes from downtown Boston by public transit, allowing residents access to major cultural hubs, world-class universities, employment epicenters and entertainment venues.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

 

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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About JLL

 

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.