BOSTON — Marcus & Millichap has arranged the sale of the Fuller Street Portfolio, a 12-unit portfolio located in the Dorchester neighborhood of Boston. The portfolio consists of two six-unit buildings, as well as a vacant lot. The properties are located at 46-48 and 301-305 Fuller St. The communities are separately metered heat and electricity, off-street parking and on-site laundry facilities. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap marketed the properties on behalf of the seller and procured the buyer. Both parties were private investors. The assets traded hands for …
MANSFIELD, MASS. — Marcus & Millichap has brokered the $4.7 million sale of a 25-unit apartment building located at 1 Samoset Ave. in Mansfield, roughly 33 miles south of Boston. According to Marcus & Millichap, the property is known locally as “The Grain Mill” and was converted from that use to residential in 1981. The community comprises 24 one-bedroom apartments and a two-bedroom penthouse. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which were local limited liability companies, in the …
WALTHAM, MASS. — CBRE has brokered the sale of Gardencrest Apartment Homes, a 696-unit community located in Waltham, about 12 miles west of Boston. CBRE represented the seller, an affiliate of Virginia-based Harbor Group International, and procured the buyer, an affiliate of San Francisco-based Fowler Property Acquisition. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE brokered the transaction. Built in phases between 1949 and 1972, the property consists of 64 buildings on 34 acres. The community offers a mix of apartments and townhome-style units. Amenities include …
BOSTON — Walker & Dunlop has arranged a $137 million Fannie Mae acquisition loan for LUKA on the Common, a 30-story high-rise community in Boston. San Francisco-based investor Carmel Partners purchased the asset, which was formerly known as AVA Theater District. The seller was Virginia-based AvalonBay Communities. LUKA on the Common is situated on a 21,344-square-foot site in the city’s downtown area. The 398-unit community was built at 45 Stuart St. in 2016, and situated in proximity to Boston Common Park, the Charles River, Boston Harbor and the city’s theater …
LYNN, MASS. — MassDevelopment has provided $7.5 million in tax-exempt bond financing for an affordable housing development located in the northeastern Boston suburb of Lynn. The project will convert the upper portion of a commercial building into a 24-unit community. Units will be reserved for formerly homeless adults between the ages of 18 and 24 who earn 30 percent or less of the area median income. Eastern Bank purchased the bond. The developer, nonprofit organization Harborlight Homes, will also utilize $6.4 million in federal low-income housing tax credits to finance …
BOSTON — Chestnut Hill Realty has delivered Franklin at Hancock Village, a 250-unit project in the Brookline neighborhood of Boston. The building rises eight stories and houses one-, two- and three-bedroom apartments. Of the total unit count, 20 percent have been set aside as affordable housing. Rent restrictions for the Franklin at Hancock Village units were not available, but Chestnut Hill reserves units for renters who make at or below 50 percent of area median income at the adjacent John Adams property. Amenities include an outdoor putting green, grilling and …
MARLBOROUGH, MASS. — Colliers has arranged $41.4 million in construction financing for 57 Main, a 92-unit project in the western Boston suburb of Marlborough. 57 Main will feature an 8,600-square-foot amenity and mezzanine space. Amenities will include a fitness center, pool, sundeck with lounge seating and an 84-space parking garage for tenants. The property will also feature 3,500 square feet of ground-floor retail space. The financing consists of joint venture equity supplied by TwinFocus Real Estate Partners and a construction loan provided by a syndicate of lenders led by HarborOne …
BOSTON — CBRE has arranged the sale of Boston East, a 200-unit community located in the East Boston neighborhood of Boston. Los Angeles-based American Realty Advisors sold the property to the real estate business at Goldman Sachs Alternatives for an undisclosed price. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE brokered the deal. Boston East was built in 2018. The building rises six stories. Community amenities include a clubroom with meeting space, sky lounge and terrace, fitness center, community arts space, outdoor firepit grilling stations and …
PROVINCETOWN, MASS. — The Community Builders (TCB) has broken ground on Province Post, a 65-unit mixed-income community in Provincetown, at the northern tip of Cape Cod. Province Post will offer 18 studio, 32 one-bedroom, 10 two-bedroom and five three-bedroom apartments. The property’s affordable component will apply to households earning between 30 and 80 percent of the area median income. Construction is slated to complete in spring 2026.
CAMBRIDGE, MASS. — MassHousing has provided $41.6 million in financing for a 106-unit affordable housing development at 52 New Street in Cambridge. The majority of the funds consists of a $15.4 million permanent loan, as well as $24.7 million in tax credit equity bridge financing. The borrower was locally based social services provider Just A Start. Once completed, the community will feature one-, two- and three-bedroom apartments for households earning 30, 60 and 80 percent of the area median income. The property will also include 3,500 square feet of commercial …