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Boston College Chasing 2000 Commonwealth Ave.

BOSTON-The 16-story, 190-unit apartment building has been a controversial target of the school in the past.

By Joe Clements | Updated on May 20, 2008

BOSTON-In an endeavor bearing potential repercussions among locals troubled by institutional expansion, Boston College is seeking to acquire 2000 Commonwealth Ave. from Archstone-Smith, sources are telling GlobeSt.com. The 16-story, 190-unit luxury apartment building is located within a mile of BC’s main campus in the city’s Brighton neighborhood.

“They are very interested in it,” one source tells GlobeSt.com, a notion supported by other commercial real estate professionals. One market watcher offered a supposed price of about $360,000 per unit, or approximately $68 million, although that figure was not confirmed by parties involved in the talks. The property is being handled for Archstone Smith by Cushman & Wakefield’s Capital Markets Group, but members of that investment sales team refused comment on the matter, even declining to say whether the asset is on the market. Sources, however, insist that not only is Archstone-Smith peddling 2000 Commonwealth Ave., but that BC is actively chasing the opportunity. Rumors of a deal between the two entities have been circulating in the community for the past week.

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