Joseph J. Corcoran Company Secures $32.6 Million Loan For 92-Unit Multifamily In Milton MA

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.