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Boston & New England  + Metro Boston  |  December 16, 2020
David Cohen
By: David Cohen

CBRE Brokers $14M Sale of Methuen Apartment Community

CBRE has arranged the $13.8 million sale of Mill Falls Apartments in Methuen, MA.

Originally built in 1826 as the Methuen Cotton Mills, the property was redeveloped in 2001, utilizing a combination of Low-Income Housing Tax Credits, State and Federal Historic Tax Credits to fund the conversion of the building into a 97-unit mixed-income apartment community. The six-story elevator building offers 11-foot to 14-foot ceilings and more than 50 different floor plans, including some with an additional office or loft.

Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller in the transaction, Methuen Mills LP, an affiliate of Silver Street Development Corp. The buyer was Standard Communities, in their first acquisition in Massachusetts.

For comments, questions or concerns, please contact David Cohen

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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.
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