Colliers International Arranges Boston-Area Sale
- Sep 13, 2019
Colliers International has facilitated the sale of Cordis Mills, a 112-unit, luxury community in Millbury, Mass. The firm’s Senior Vice President Christopher Sower led the brokerage group, which represented the seller, R.H. White Cos., in the transaction. Charger Ventures, a company founded in 2018, acquired the property for $17.5 million. The sale was subject to a $14.4 million loan provided by Freddie Mac, according to Yardi Matrix.
Located at 65 Canal St., the community is near Freeway 146, around 44 miles from downtown Boston. Cordis Mills is also situated near many dining and entertainment options, such as Star Dumplings, Subway and the Elm Draught House Cinema.
The building was originally constructed in 1885 as a manufacturing warehouse and was repurposed as a residential development in 2001. The property sits on roughly 18 acres and comprises one- and two-bedroom units, averaging 938 square feet, according to Yardi Matrix. The units feature washers and dryers, fireplaces and above-standard ceiling height. Property characteristics include controlled access, a business center, clubhouse, volleyball court, basketball court, swimming pool and spa.
Besides Sower, Colliers International’s Capital Markets group included Vice President Bruce Lusa, Assistant Vice President Jonathan Bryant and Associate John Flaherty. Earlier this year, the firm also brokered the sale of a 376-unit community in Montgomery, Ala.
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