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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.

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Inside The Story

Berkadia’s Athas

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Acquisition
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