CAMBRIDGE, MASS. — Walker & Dunlop has arranged the $53.6 million sale of 929 MASS, a mixed-use, two-building property in the Central Square area of Cambridge. Walker & Dunlop represented the unnamed institutional seller in the deal with a team led by Travis D’Amato, Michael Coyne, Brendan Shields, Kevin Gleason and Maggie McFarland. Concurrently, Andrew Gnazzo and Mike Darling secured acquisition financing for buyer John M Corcoran & Co. (JMC), arranging a $37.1 million fixed-rate, interest-only Fannie Mae loan.
JMC has partnered with Stars REI, a global, privately held company with real estate holdings in the U.S. and the U.K., to provide property and asset management services to 929 MASS and complete property upgrades. 929 MASS includes an 18-story building with 96 units, 12,451 square feet of commercial space, 71 garage parking spaces and 40 surface parking spaces, along with a contiguous five-story building comprising 31 units.