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Lynnfield Commons Sold for $81.5M

Photo courtesy of JMC

Braintree-based John M. Corcoran & Co. sold a Lynnfield apartment property to a partnership of Boston-based Taurus Investment Holdings and L&G for $81.5 million.

The Lynnfield Commons contains 200 garden-style apartments completed in 2009.

JMC, the original developer, will continue to manage the 16-year-old complex.

The purchase price works out to over $407,000 per unit.

The complex includes a 25-percent income-restricted component. Resident amenities include a clubhouse, fitness center, pool and walking trails.

Chicago-based L&G Asset Management has nearly $1.4 trillion in assets under management.