Berkadia Arranges $95M Sale of Two MF Properties in Lawrence
Berkadia has arranged the $95 million sale of the Merrimack Valley Portfolio, a two-property multifamily portfolio in Lawrence, MASS.
The portfolio consists of Mill 240 and Washington Mills, two mid-rise former mill buildings developed into Class A multifamily properties in Lawrence. Mill 240 is a 217-unit property located at 240 Canal St. that was renovated in 2019. Washington Mills is a 155-unit property located at 270 Canal St. that was renovated in 2007.
Jennifer Athas and Matt Olson of Berkadia’s Boston office represented the seller in the transaction, Massachusetts-based SMC Washington Mills Apartments Limited Partnership and SMC Washington Mills Apartments II Limited Partnership. The buyer was Boston-based Berkeley Investments Inc.
- ◦Acquisition