Boston, September 10, 2025
News Summary
CBRE’s Boston Multifamily Capital Markets Group has reported outstanding results, closing $27.5 billion in multifamily transactions and earning the recognition of 2025 Brokers of the Year in Multifamily Investments. With a significant market share, the team has been involved in numerous deals and is actively working on a project to convert a historic church into affordable housing. They continue to navigate market challenges while expanding their influence in the multifamily sector.
Boston — CBRE’s Boston Multifamily Capital Markets Group reported exceptional transactional performance and industry recognition, closing large volumes of multifamily assets and earning the 2025 Brokers of the Year award in Multifamily Investments for its leadership team.
Top line: scale of transactions and award
The team closed a cumulative $27.5 billion in multifamily transactions and sold 132,602 units, representing nearly 50% of all multifamily investment sales in Greater Boston since 2012. The group’s leadership, Vice Chairmen Simon Butler and Biria St. John, were named the 2025 Brokers of the Year in Multifamily Investments.
Recent and current activity
In 2024 the two leaders closed transactions totaling $1.63 billion, covering 4,784 units across 29 deals. As of 2025, the Boston team has closed $1.4 billion in transactions and has an additional $570 million under agreement. The team’s portfolio activity spans luxury urban developments, suburban garden-style assets, value-add repositioning, affordable housing projects, and joint venture equity raises.
Client base and deal focus
The group works with a broad set of clients, including institutional investors, REITs, developers, syndicators, family offices, and private equity firms. Deal work includes market-rate and affordable housing opportunities, land sales, joint ventures, and investments focused on emerging suburban hubs.
Team experience and specialization
Simon Butler has a long record in multifamily investment sales, having closed more than $24 billion in deals and consistently ranking among top producers at CBRE. His experience concentrates on transactions across Greater Boston and New England with an emphasis on achieving strong sale prices for clients. Biria St. John brings valuation and transaction structuring expertise and has been involved in over $24 billion in multifamily transactions; her recent work has placed particular emphasis on affordable housing, with over $550 million in affordable-sector deals completed in the past five years.
Local project example: East Cambridge affordable housing conversion
The team is involved in a project converting the former Sacred Heart Church rectory and school in East Cambridge into 46 affordable housing apartments. These units are planned for households earning below 80% of area median income. Funding for the project includes $2.4 million from the Executive Office of Housing and Livable Communities (EOHLC) and Low Income Housing Tax Credits. The development aims to preserve the historic character of the church while expanding affordable housing stock. Construction is expected to finish by fall 2027, with the first residents anticipated to move in by December 2027.
Market context and challenges
The Boston-area multifamily market shows steady fundamentals amid broader economic pressure from inflation and higher interest rates. Current indicators include a vacancy rate near 5.8% and asking rents at an all-time high of $3.23 per square foot. New construction in the Boston metro area remains subdued, with more than 11,000 units underway. That reduced pipeline, combined with elevated development costs and financing challenges, could shape future supply growth and deal activity.
Strategic outlook
Against this backdrop, the Boston team continues to help clients pursue maximum value, responding to ongoing rental demand across Massachusetts and New England. The group is focused on expanding its footprint in both market-rate and affordable housing sectors and targeting opportunities in land sales, joint ventures, and growing suburban markets.
Company context
CBRE Group, Inc. is a global commercial real estate services and investment firm with more than 140,000 employees operating in over 100 countries. The Boston multifamily group’s results and recent recognition are part of the firm’s broader presence in commercial real estate markets worldwide.
FAQ
What recognition did the Boston multifamily team receive?
The team’s leaders were named the 2025 Brokers of the Year in Multifamily Investments for their performance in multifamily transactions.
How much has the Boston team transacted overall?
The group has closed $27.5 billion in multifamily transactions and sold 132,602 units since 2012.
What recent transaction volume was closed in 2024 and 2025?
In 2024 the leaders closed $1.63 billion across 29 deals covering 4,784 units. In 2025 the team had closed $1.4 billion and had $570 million under agreement at the time of reporting.
What kinds of properties does the team handle?
The team works on luxury urban projects, suburban garden-style properties, value-add repositioning, affordable housing, and joint venture equity raises.
What is the status of the East Cambridge affordable housing project?
The project will create 46 affordable units, has EOHLC funding of $2.4 million, uses Low Income Housing Tax Credits, aims to finish construction by fall 2027, and expects first move-ins by December 2027.
What are local market conditions that could affect future deals?
Market conditions include a 5.8% vacancy rate, record asking rents of $3.23 per square foot, roughly 11,000 units under construction, and challenges from higher interest rates and elevated development costs.
Key figures at a glance
| Metric | Value |
|---|---|
| Total closed transactions (since 2012) | $27.5 billion |
| Total units sold (since 2012) | 132,602 units |
| Share of Greater Boston multifamily sales | Nearly 50% |
| 2024 closings | $1.63 billion; 4,784 units; 29 deals |
| 2025 closings to date | $1.4 billion closed; $570 million under agreement |
| Affordable project: East Cambridge units | 46 apartments; targeted for households <80% AMI |
| EOHLC funding for Cambridge project | $2.4 million |
| Expected Cambridge project completion | Construction by fall 2027; move-ins by December 2027 |
| Boston metro vacancy rate | 5.8% |
| Asking rent (per sq. ft.) | $3.23 |
| Units under construction in Boston metro | More than 11,000 units |
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Additional Resources
- Boston Real Estate Times: $27.5 Billion Closed and Counting
- Wikipedia: Boston
- CoStar: Newmark Expands Healthcare Team
- Google Search: Boston multifamily housing
- SFGate: Boston Area Church Rectory
- Encyclopedia Britannica: Boston housing
- Colliers: Greater Boston Multifamily Report
- Google News: Boston real estate multifamily
- Boston Real Estate Times: CBRE Arranges $52.5 Million Sale
- Google Search: multifamily real estate Boston
- MultiHousing News: The Hamilton Co. Buys Boston Community
Author: STAFF HERE BOSTON WRITER
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