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CAMBRIDGE, MA-Archstone-Smith has acquired Worthington Place, an award-winning, 186-unit historic class A apartment community here, in a $66-million transaction. The deal gives the Englewood, CO-based buyer its 12th apartment holding in the Boston area.

“It’s a very unique building, not your typical apartment,” Simon Butler, with CB Richard Ellis’ Northeast Multi-Housing Team, tells The former industrial building, originally constructed on a 2.5-acre parcel at 195 Binney St. in Kendall Square, was converted into apartments seven years ago by seller Worthington Place Associates LP. It was the largest historical renovation in Cambridge. Renamed Archstone Kendall Square by its new owners, the 238,000-sf, four-building property is fully leased at an average rent of $2,193 per month, Butler says.

Locally based architect HMFH Architects Inc. redesigned the building to retain its historic character by incorporating wood beams, exposed concrete mushroom columns, brick walls and 16-foot ceilings into the design of the units. The firm’s design received the Cambridge Historic Commissions Preservation Award and the Massachusetts Historic Commission Preservation Award, both in 1999, followed the next year by the Boston Society of Architects/AIA New York Housing Design Award.

The transaction was handled for seller by Butler and CB Richard Ellis’ Northeast Multi-Housing Team members Biria St. John and Chris Sower. Attorney Andrew Sucoff of Goodwin Procter LLP acted as an advisor to the seller. Archstone-Smith was self-represented.

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