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JMC Trades Weymouth Apartments to BlackRock Fund
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler closed the sale of The Commons at Southfield, a two-phase, 298-unit apartment community located in Weymouth, MA. CBRE represented the seller, John M Corcoran & Company (JMC), which developed the community and will continue managing it.
The team also procured the buyer, a fund advised by Blackrock Realty Advisors. The sale price was $103.1 million, according to published reports.
The Commons at Southfield was developed in two phases in 2012 and 2014 and comprised of 226 and 72 units respectively. It’s located within Union Point, a large master planned development.
“JMC was one of a few pioneering developers who were the first to break ground at what is now Union Point,” said Peter Mahoney, EVP for JMC. “The investment has proven out over time, and this sale represents a solid outcome for us and our partners.”
- ◦Sale/Acquisition
