BRAINTREE, MA — John M. Corcoran & Company is expanding its third-party residential property management business through a new partnership with Eastern Real Estate that adds two properties in Massachusetts and New Hampshire to its portfolio.
The agreement covers Chocolate Factory Apartments, a 130-unit community in Mansfield, Massachusetts, and Prescott Post, a 360-unit development under construction in Portsmouth, New Hampshire.
JMC will take over management of Chocolate Factory Apartments following Eastern Real Estate’s acquisition of the property. The company will also work with Eastern Real Estate on management of Prescott Post, which is expected to open in early 2027.
The two properties represent different stages of residential development and management. Chocolate Factory Apartments is an adaptive-reuse project that has already been converted into housing, while Prescott Post will be a newly built community entering the market next year.
“Chocolate Factory Apartments and Prescott Post present two distinct opportunities—one an established adaptive-reuse community and the other a new development entering lease-up,” said Bob Ruzzo, Executive Vice President of John M. Corcoran & Company. “Our involvement in both reflects the breadth of our operating capabilities and our ability to support owners at every stage of a residential asset’s life cycle.”
Mansfield’s Chocolate Factory
Chocolate Factory Apartments occupies a five-story historic mill building at 150 Oakland Street in Mansfield. The 130-unit property was converted to residential use in 2023, retaining elements of its industrial past, including exposed brick walls and wood ceilings.
The apartments include studios as well as one- and two-bedroom units. Features include central air conditioning, in-unit laundry, granite countertops and stainless-steel appliances.
The community also has a fitness center, work-from-home areas, resident lounge and dog park. Its location provides access to commuter rail service.
The property’s name reflects its history as a chocolate manufacturing facility. Chocolate production continued in the building until 2010.
Portsmouth Development
Prescott Post, at 100 Durgin Lane in Portsmouth, is being developed by Eastern Real Estate and The Kane Company. The project will include 360 apartments spread across 17 four-story buildings.
The development is scheduled to open in early 2027, putting JMC in a position to manage the property as it moves into the leasing and occupancy phase.
“Eastern Real Estate has built an impressive track record across a broad range of real estate investments, and this is a strong start to our new relationship with two very different but complementary assignments,” said Chris Butkovich, Vice President at JMC.
The partnership also expands JMC’s work with third-party owners and developers as the company grows its residential management operations in New Hampshire.
For Eastern Real Estate, bringing JMC into the two projects adds an established residential management operation to its investment and development platform.
“JMC brings a depth of residential management experience and an established operating platform that aligns well with our approach to these communities,” said Andrew Hayes, Managing Director at Eastern Real Estate.
JMC has more than seven decades of experience in residential operations. The new assignments add both an established community and a major new development to its third-party management portfolio, giving the company a broader presence across New England’s residential market.
