CBRE Brokers $14M Sale of Methuen Apartment Or Condo Neighborhood

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CBRE has organized the $13.8 million sale of Mill Falls Apartments in Methuen, MASS.

. Initially developed in 1826 as the Methuen Cotton Mills, the property was redeveloped in 2001, utilizing a mix of Low-Income Real estate Tax Credits, State as well as Federal Historic Tax obligation Credits to money the conversion of the building right into a 97-unit mixed-income apartment or condo neighborhood. The six-story elevator structure supplies 11-foot to 14-foot ceilings and also greater than 50 different floor plans, consisting of some with an extra workplace or loft.

Simon Butler, Biria St. John and also John McLaughlin of CBRE represented the seller in the purchase, Methuen Mills LP, an associate of Silver Street Development Corp. The buyer was Common Communities, in their initial procurement in Massachusetts.

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Released at Wed, 16 Dec 2020 16:55:24 +0000

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