BRAINTREE, Mass.— John M. Corcoran & Co. (JMC), a long-established residential development and management firm in New England, closed 2025 with significant growth in its property management portfolio, contracting more than 1,500 apartments under new management agreements during the year. The expansion reflects a mix of new client assignments, geographic growth, and continued confidence from ownership partners.
During 2025, JMC advanced multiple development and acquisition initiatives. The firm delivered completed buildings as part of its phased developments at DUO in Chelsea and The Devon at Weiss Farm in Stoneham. JMC also acquired the existing high-rise property at 929 Massachusetts Avenue in Cambridge, received municipal approvals for a 440-unit development in Beverly, and completed a land acquisition in Andover in early 2026.
“Our momentum heading into 2026 is remarkable,” said Peter Mahoney, executive vice president of John M. Corcoran & Co. “With strong owner relationships, expanded geographies, and multiple developments underway, JMC is well positioned for continued success in the year ahead.”
Portfolio growth on the management side was driven by five new ownership groups selecting JMC to manage their development communities over the past year. In addition, three properties that changed ownership elected to retain JMC as their management firm. Lease-up activity remained active throughout 2025, with properties in Somerset, Stoneham, and Chelsea coming online. Looking ahead, additional lease-ups are expected to begin in Pawtucket, Rhode Island, and Portsmouth, New Hampshire, in 2026.
JMC and its properties also received several industry honors in 2025. DUO in Chelsea was awarded NAIOP’s inaugural Urban Development Project of the Year, recognizing the mixed-income community’s public-private partnership that replaced and modernized public housing with new affordable and market-rate apartments. The Builders and Remodelers Association of Greater Boston honored The Devon at Weiss Farm with a Best Clubhouse award, while West Broadway Homes was named a finalist for the Massachusetts Apartment Association’s Community of Excellence Award for affordable housing.
