**Hanover Crossing Residences in Massachusetts Sells for Reported $156 Million**
CBRE has announced the successful sale of Hanover Crossing Residences, a 297-unit apartment community in Hanover, Massachusetts, for a reported $156 million. The deal was facilitated by a CBRE team led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler.
CBRE represented the seller, The Hanover Company, a Houston-based real estate developer with a national footprint. AEW Capital Management, acting on behalf of a separate account, was secured as the buyer.
Completed in 2023, Hanover Crossing Residences comprises four four-story, elevatored buildings. The property is 100% market rate and offers a mix of one-, two-, and three-bedroom apartments.
“We are pleased to have represented The Hanover Company in the sale of Hanover Crossing Residences,” said Simon Butler. “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-square-foot Hanover Crossing shopping center and with superior access to numerous employment centers—supports AEW’s investment decision.”
The transaction underscores continued investor interest in well-located, high-quality multifamily assets in the Greater Boston area.
