CBRE/New England Capital Markets has recapitalized Parkside Commons, a 228-unit apartment complex in Chelsea.
CBRE represented owner Parkside Commons Apartments LP, a joint venture between Braintree-based John M. Corcoran & Co. and a foreign investor, and procured the new partner.
"The transaction allowed John M. Corcoran & Co. to remain in the ownership structure, while allowing the existing equity partner to cash out at market value," said Simon Butler, executive vice president and partner at CBRE/New England.
Built in 2008, Parkside Commons consists of a four-story building and five-story parking garage. The community contains 10 percent affordable units.



