Wingate Multifamily, LLC, an affiliate of Wingate Companies of Newton, MA, has completed the recapitalization of Baker Chocolate Factory Apartments in Dorchester through a joint venture with J.P. Morgan Real Estate Income Trust, Inc. Originally acquired by a Wingate affiliate in December 2024 primarily on balance sheet, the transaction was recapitalized with equity from JPMREIT. Terms were not disclosed.

Situated in the Lower Mills neighborhood, on the Milton town line and adjacent to the Milton Red Line station, the community offers residents convenient access to Boston’s major employment centers and is located one mile from I-93. JLL exclusively represented Wingate in securing the equity capital for the transaction.

Elizabeth Schuster, SVP at Wingate Companies, said “We are proud to partner with JPMREIT to further preserve and enhance an iconic property in one of Boston’s most vibrant neighborhoods. This collaboration—enabled by our longstanding relationship with JLL and Rob Hinckley—highlights a joint-venture model we look forward to replicating.”

Whether you lend, build, broker, invest, or advise in the multifamily arena, you won’t want to miss Connect Southeast Multifamily on December 4^th. If you’re involved in development, repositioning, investment, asset operations, financing, or trading — these insights are designed for you. Take a look at the full event agenda and register now to be in the room on December 4^th! www.ConnectSEMF2025.com