Photo courtesy of CBRE

A 73-unit Jamaica Plain apartment complex developed by Boston-based Berkeley Investments that includes retail tenant Drawdown Brewery sold for $37.8 million.

Berkeley Investments acquired the 3200 Washington St. site in 2016 for $6.2 million. In 2016, Berkeley received approval from the Boston Planning & Development Agency for the two-building, 100,000 square-foot project, which replaced a plumbing company and auto repair garage.

The buyer, FCREF 3200 Washington, LLC, is an affiliate of Fidelity Core Real Estate Operating Partnership. The purchase price works out to $517,808 per unit.

Berkeley received $21.5 million in financing from Santander Bank in 2017, and completed the project in 2019.

In December 2023, the locally-owned Drawdown Brewing opened a 36-seat brewery and tap room at the property. A second commercial suite is occupied by Glenvale Solar.

CBRE’s Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented the seller and procured the buyer.