Braintree, MA— John M. Corcoran & Company (JMC) announced the sale of Lynnfield Commons, a 200-unit garden-style apartment community located in Lynnfield, Massachusetts. The property was acquired by L&G in partnership with Taurus Investment Holdings, LLC.
Despite the change in ownership, JMC will continue to manage the community, leveraging its decades of operational expertise to ensure a seamless transition and continued high-quality service for residents.
“With more than 70 years in property operations, JMC is able to deliver seamless solutions as a third-party manager, and that segment of our business is growing,” said Bob Ruzzo, Executive Vice President of JMC’s property management division. “For Lynnfield Commons, our intimate knowledge of the community allows the transition in ownership to benefit everyone without disruption to residents.”
Developed and built by JMC in 2009, Lynnfield Commons is located in Boston’s desirable North Shore submarket. The community features spacious one- and two-bedroom apartments and offers a range of amenities, including a clubhouse, fitness center, swimming pool, and scenic walking trails. Its location provides easy access to major employers like Raytheon and Oracle, top-rated public schools, and key highways including Routes 1 and 128.
Notably, 25% of the units are designated as affordable housing, contributing to the long-term housing stability of the region—an increasingly important factor in Massachusetts’ competitive housing market.
“This sale is a terrific example of our expertise in developing and delivering successful rental communities in the New England market,” said Peter Mahoney, Executive Vice President of Development at JMC. “While always bittersweet to see an asset that we developed leave the portfolio, we are pleased to realize returns for investors. Owners continue to look to our company for continuity and excellence in property management.”
The deal underscores the growing demand for JMC’s third-party property management services, as institutional and private owners seek experienced operators with a strong regional footprint and a resident-first approach.
By remaining on as the property manager, JMC ensures a continuity of service that minimizes disruptions and maintains the community’s reputation for high-quality living.
