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Tue, Feb 18
A Compendium of Property & Capital News
Feb 18
A Compendium of Property & Capital News

Cornerstone Arranges $5.7M for 44-Unit Former Amebsury Mill Building

February 07, 2019
Briggs Mill, Amesbury MA

AMESBURY–Cornerstone Realty Capital has completed the arrangement of $5.7 million in financing for the acquisition of Briggs Mill, a converted mill building into multi-unit apartments.

The property, a former mill building was converted to apartments in 2014 by then current owner, Chinburg Properties, and is comprised of forty-four units, with a mix of single-studios, up to two-bedroom units. All units feature modern finishes, including stainless steel appliances and granite countertops, as well as desirable elements, with exposed brick & beam, and oversized windows giving way to lots of natural light. The Asset traded for $5.7 Million in January.