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Hanover sells Cambridge, Mass., apartment community for $150M

The Hanover Co. sold the Hanover Cambridge Park apartment community in Cambridge, Mass., for $150 million, Multi-Housing News reported, citing Yardi Matrix data.

Life insurance company Guardian Life purchased the 254-unit property at 80 Cambridge Park Drive, which was 94.9% leased as of November 2019.

The LEED Gold-certified property includes 380 parking spaces and access to 7,700 square feet of ground-floor retail space.

CBRE brokered the transaction, according to the report.