Image courtesy of CBRE

Alliance Residential and Invesco have pocketed $139.25 million after selling a 220-unit Hingham apartment complex completed in 2020 to an institutional investor.

The sales price equates to nearly $633,000 per unit. The buyer, 300 Beal St. Owner LLC, is an entity affiliated with Goldman Sachs.

The garden-style community at 350 Beal St. includes a pair of four-story elevatored buildings with below-grade parking. Alliance received approval for the project, its first in Massachusetts, under the state’s Chapter 40B affordable housing law.

Designed by CUBE 3 Architects and built by Callahan Construction Managers, the complex features units with 10-foot ceilings, kitchen islands and Back River views. The 10,000-square-foot amenity package includes a media lounge with four-screen video wall, clubroom with beer and wine taps, sky lounge, outdoor terrace and dedicated work-from-home spaces.

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