Weymouth, MA
CBRE Arranges Sale of The Commons at Southfield – A 298-Unit Apartment Community located in Weymouth, MA
February 3, 2025
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Communications Director
Today, representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler announced the sale of The Commons at Southfield, a two phase 298-unit, apartment community located in Weymouth, Massachusetts.
CBRE exclusively represented the seller, Southfield Commons, LLC, a partnership created and operated by John M Corcoran & Company (JMC) which developed the community. The team also procured the buyer, a fund advised by Blackrock Realty Advisors, Inc.
The Commons at Southfield was developed in two phases in 2012 and 2014 and comprised of 226 and 72 units respectively. The community consists of four separate buildings and offers a mix of studios, one-bedroom, and two-bedroom apartments, as well as three-bedroom apartment homes, with an average apartment size of 934 square feet. The community offers expansive amenities, including a fitness center, a swimming pool, a business center and a roof deck. The community is located within Union Point, a large master planned development. The Commons at Southfield offers easy access to numerous employment centers and is within walking distance of the South Weymouth MBTA community rail station as well as Route 3 and I-93 & 95.
“JMC was one of a few pioneering developers who were the first to break ground at what is now Union Point. The investment has proven out over time, and this sale represents a solid outcome for us and our partners,” said Peter Mahoney, Executive Vice President for John M. Corcoran & Company. “It is especially validating to stay on as a third-party property manager, a side of our business that continues to grow. Of the over 13,000 units that we currently manage, about half are for third party clients like Blackrock.”
CBRE’s Simon Butler said, “We are pleased to have represented the seller in the sale of the Commons at Southfield, having sold them the in the site for phase 1 in 2010. The buyer is well-positioned to execute their business plan and generate healthy long-term returns given the location and market fundamentals as well as the opportunity to enhance the apartment finishes and amenities through upgrades.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About John M. Corcoran & Company
John M. Corcoran & Company (JMC) is one of the region’s leading residential management and development firms, specializing in delivering unmatched customer service and maintaining exceptional quality standards for more than seventy years. The privately-owned company has earned a reputation for integrity and professionalism with residents, owners, vendors and the communities that surround its residences, and for specializing in third-party management services to a sophisticated and diverse group of clients ranging from institutional investors and condominium associations to private entrepreneurs and public housing authorities. JMC focuses on high-quality facilities, superb maintenance, superior service and quality living in properties that are thoughtfully planned, tastefully decorated and finished with luxuriant landscaping. For more information on the company and its properties, visit https://www.jmcandco.com/.
About BlackRock Realty Advisors, Inc.
We leverage our scale and experience. We’ve been investing in real estate since 1981 and have deep expertise across the markets and sectors where we operate. We offer a globally aligned platform of separate accounts, commingled funds and co-investments, enabling investors to allocate into a suite of complimentary strategies. BlackRock is a global investment manager and our purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals.