July 2, 2020
CBRE has brokered the $76-million sale of Pynchon Terrace and Edgewater Apartments, two apartment properties totaling 612 units in Springfield, MA.
The two properties span an area of five city blocks along the Connecticut River. Pynchon Terrace is comprised of 250 apartment homes throughout 32 townhouse buildings and was built in 1971 while Edgewater Apartments is comprised of 362 apartment homes throughout 13, townhouse buildings and one 10-story high-rise building. The high-rise building was constructed in 1975 while the townhouse buildings at Edgewater Apartments were built in 1972.
Simon Butler, Biria St. John, John McLaughlin, Jeff Kunitz and Mike Canori of CBRE represented the seller, Silver Street Development Corp., in the transaction. The buyer was BLVD Capital.
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