Real estate investment and asset management company Brookwood Financial Partners LLC has sold One Alewife Center in Cambridge for $21.6 million.

Colony Realty Partners’ Boston office acted in an advisory capacity to the buyer, James Campbell Co. LLC. Brookwood Financial Partners was represented by Robert Griffith, Edward Maher and Matt Pullen of Cushman and Wakefield.

Brookwood Financial Partners purchased One Alewife Center in June 2012 for $12 million. Since acquiring the property in an off-market transaction, Brookwood increased its occupancy from 53 percent to more than 91 percent.

"When we acquired One Alewife, we implemented a major capital improvement plan, which included upgrades to the lobby, café and common areas, and replacing the HVAC system and roof," Thomas W. Brown, Brookwood’s director of acquisitions, said in a statement. "The investments we made were well received in the market, and when coupled with the property’s exceptional location next to the Alewife T-stop, accelerated our ability to lease the vacant space."

At the time of acquisition, Brookwood believed that the West Cambridge/Alewife office submarket would benefit from the improving East and Mid-Cambridge submarkets, which had vacancy rates below 10 percent and increasing rental rates.

"We anticipated that technology, biotechnology and other companies in need of office space would gravitate toward the less expensive options available in the West Cambridge/Alewife submarket," Brown said in a statement. Brookwood originally underwrote rents in the mid-$20 per square foot range and at sale were achieving rents in the low $30 per square foot range.