57-Main-Marlborough-Massachusetts

Colliers Arranges $41.4M in Construction Financing for Metro Boston Multifamily Project

by Taylor Williams

MARLBOROUGH, MASS. — Colliers has arranged $41.4 million in construction financing for a 92-unit multifamily project that will be located in the western Boston suburb of Marlborough. Known as 57 Main, the property will feature 3,500 square feet of ground-floor retail space and an 8,600-square-foot amenity and mezzanine space. The financing consists of joint venture equity supplied by TwinFocus Real Estate Partners and a construction loan provided by a syndicate of lenders led by HarborOne Bank in partnership with Westfield Bank. Jeff Black, Sean Burke, Bryan Koop and Matt Lombardi of Colliers arranged the financing on behalf of the borrower, locally based developer The Procopio Cos.

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