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Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

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Attributes

Year Built 2019
Building Area
Number of units 264

Property Description

Jones Lang LaSalle (JLL) has been exclusively retained to market The Edison on the Charles (the “Community”), a newly constructed 264-unit, transit-oriented apartment community located in Waltham, Massachusetts. The Community offers a premium living experience in an urban infill setting with excellent access to the 25 million square foot Interstate 95 (Route 128)/Mass Pike commercial corridor, as well as both Cambridge and Boston via the MBTA Commuter Rail, which lies adjacent to the property. Additionally, The Edison on the Charles is a short walk from more than 40 restaurants, bars, cafes, and other conveniences located along Moody Street and Main Street in Waltham center, boasting a Walk Score of 92.


Consistent with its outstanding location and market-leading quality, The Edison on the Charles has outperformed every other property in Greater Boston since introduced to the market in December of 2019. During that time, the Community has averaged 24 leases per month, with no concessions and rental rates that rival properties in Boston and Cambridge. Based on this performance, The Edison on the Charles will be fully stabilized by the Fall of 2020.


With its impressive performance, extensive walkable amenities, proximity to transit, riverfront location on the Charles River, and distinctive asset quality, The Edison on the Charles offers the rare opportunity to invest in an outperforming asset located in an urban environment with access to the top commercial demand drivers in Greater Boston.

The Edison on the Charles will be sold free and clear of debt financing, allowing prospective buyers to structure the sale to take advantage of their unique capital strategy and today’s highly attractive financing.

Investment Highlights

  • Market leading performance; nothing else comes close
  • Convenient access to the region's primary commercial hubs: 128 mass pike, Cambridge and Downtown Boston
  • The most walkable amenities outside of Boston: all the benefits of urban living
  • Premium, distinctive product


Last Updated Date: 24 Aug 2020
Christopher Phaneuf
Christopher Phaneuf
Managing Director, Capital Markets
License details
MA-9032841
Adam Dunn
Adam Dunn
Senior Director, Capital Markets
License details
MA-9553106 CT-REB.0755412 ME-DB922772

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Last Updated Date: 24 Aug 2020

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