Newmark Capital Markets today announced that it has been exclusively retained to sell Serenity, a 100% market-rate, 195-unit luxury apartment community located in Boston, Massachusetts. Executive Managing Director Michael Byrne, Managing Director Thomas Greeley and Associate Casey Griffin of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, will oversee the transaction of the high-rise trophy asset.
Completed in 2017, Serenity boasts condominium-quality finishes including contemporary kitchens, sleek bathrooms, walk-in closets and oversized windows providing abundant natural light and sweeping views. The property also features vibrant on-site amenities highlighted by a two-story, dual-entrance lobby, spacious lounge, elevated pool deck, private courtyard, state-of-the-art fitness center and direct-access parking garage.
“Featuring 100% market-rate apartment units, high-rise steel construction and a transit-oriented location with immediate access to major employers, Serenity has enjoyed impressive leasing velocity throughout the past 12 months,” said Byrne. “The property also boasts an exceptional urban core location in Boston, a premier gateway city, and a fee-simple offering structure with no ground lease, which will appeal to a variety of potential investors.”
Serenity is located in Boston, a major gateway market that is driven by a highly educated workforce and unmatched presence of prestigious universities, major global headquarters users and prestigious medical institutions. The asset is strategically positioned at the northeastern edge of Olmsted Park, a nearly 13-acre green space that is part of Boston’s iconic Emerald Necklace park system, and adjacent to the Longwood Medical Area, a globally renowned medical, research, life science and education hub anchored by Harvard Medical School. The property therefore provides its residents with scenic views and abundant employment opportunities - in fact, more than 60% of Serenity’s current residents work within the medical/healthcare sector.
Serenity also enjoys a transit-oriented location along the MBTA Green Line, which facilitates rapid connections to key destinations throughout the Longwood Medical Area, Back Bay, Downtown Boston and Cambridge.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.