Updated Oct 12, 2026
Joseph J. Corcoran Company Secures $32.6 Million Loan For 92-Unit Multifamily In Milton MA
4 Franklin Street, 4–24 Franklin Street, Milton, Ma 02186 & 24 Franklin Street
$32,600,000
Units
92
Asset Type
MultiFamily
Closing
Aug 12, 2026
About this deal
AI
The asset involved in the transaction is a multi-family property located at 4-24 Franklin Street in Milton, MA. This development comprises 92 units and is part of a mixed-income multifamily project. The financing secured for this property amounted to $32,600,000.
Summary of transaction details:
- Property Type: Multi-Family
- Transaction Amount: $32,600,000
- Lender: Chrystal Kornegay - MassHousing & Freddie Mac
- Landlord: Joseph J. Corcoran Company
- Brokers: Heather Olson, Emily Pope & Anne Stephenson - Berkadia
Berkadia played a key role in this transaction by securing permanent financing through MassHousing and Freddie Mac’s Affordable Forward Commitment Program specifically for the project known as Residences at East Milton Square.
On the Map
$32,600,000
MultiFamily
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Players
Milton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93