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SELECTED TRANSACTION DETAILS
Cambridge Savings Bank Supports Redevelopment, Expansion of Innes Apartments as Lead Bank in $93MM Construction Loan
Thursday, December 8, 2022

Lenders/Participants Cambridge Savings Bank [Lender]
Structure Construction Loan
Amount $93.000 Million
Borrower(s) John M. Corcoran & Company and Joseph J. Corcoran Company
Description $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company, in partnership with real estate private equity firm Marcus Partners. The redevelopment team will utilize the capital to replace the eight existing buildings at the Innes Apartments constructed in the 1950’s and build a 350,000 square-foot mixed use community in its place.
Industry Real Estate
Location MA
Related Tags Commercial Real Estate, Real Estate




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