An apartment complex at 165-181 Cambridgepark Drive has been sold for $127.5 million.
Metropolitan Life Insurance Co. provided a $76.5 million mortgage.
Completed in 2016, Fuse Cambridge includes 40 studios, 100 one-bedroom units, 15 one-bedroom plus den units, 80 two-bedroom units and nine three-bedroom units. The sale price equates to nearly $523,000 per unit. Apartments average 827 square feet.
Amenities include sun deck with heat pool, outdoor kitchen with gas grills and TV, fitness center, network lounge and conference room.
CBRE/New England’s Simon Butler and Biria St. John represented the seller, Houston-based developer Hines, and procured the buyer, an entity owned by Wafra Residential Value Invest I.
Wafra’s real estate division has approximately $1.7 billion in North American investments. The Wafra Residential Value Invest I fund concentrates on class A apartments in select U.S. markets on behalf of German institutional investors.