Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler announced the sale of Hanover Crossing Residences, a 297-unit, apartment community located in Hanover, Massachusetts.
CBRE exclusively represented the seller, The Hanover Company, a Houston, TX-based real estate developer active across the United States. CBRE also procured AEW Capital Management, who advised a separate account.
Hanover Crossing Residences was built in 2023 and comprises four, four-story, elevatored buildings with an expansive amenity package. The community is 100% market-rate and includes a mix of one-bedroom, two-bedroom, and three-bedroom apartments, with an average unit size of 934 sq. ft. Hanover Crossing includes an entertaining kitchen and social lounge within one building, an expansive fitness center, co-working space, resort-style pool, both attached and free standing garage parking, grilling areas, and more.
CBRE’s Simon Butler said, “We are pleased to have represented the Hanover Company in the sale of Hanover Crossing Residences. They were able to successfully execute their business plan, having developed a truly best-in-class apartment asset which drew strong investor interest. The community’s location adjacent to the 720,000 sq. ft. Hanover Crossing and with superior access to numerous employment centers, supports AEW’s investment decision.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage serving, valuations); Building Operations & Experience (facilities management, property management, flex space & experience); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development).
