Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler announced the sale of Ellis Factory Lofts, a 59-unit, Class A apartment building in Haverhill, Massachusetts.
CBRE represented the seller, Chinburg Properties, a New Hampshire-based developer. The team also procured the buyer, SMC Management, a Massachusetts-based multifamily investor and developer.
Built in 2019, Ellis Factory Lofts was formerly home to Ted’s Leather Goods and transformed into 59 luxury apartments and three commercial suites. As a redeveloped factory and mill building, the community offers up to six stories of loft living with elevator service, 12-foot ceiling heights, oversized industrial windows, and exposed brick and beams. The community amenities, which rival those of much larger Class A communities, include a resident clubroom, fitness room, bike storage, dog wash, private courtyard and a controlled access parcel room.
CBRE’s Biria St. John said, “We are pleased to have represented Chinburg in the sale of Ellis Factory Lofts. The property is truly one of the highest quality loft conversions we have seen and is one of many downtown Haverhill developments that is helping to transform the area into a vibrant livable city.”
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
