Marlborough, MA – Twinfocus Real Estate Partners has joined forces with The Procopio Companies in a significant multifamily development project in Marlborough, Massachusetts. Colliers’ Capital Markets team successfully arranged $41.4 million in construction financing for this venture, highlighting the strong investor interest in Marlborough’s burgeoning real estate market and the appeal of strategic partnerships like the one with TwinFocus.
The development, located at 57 Main Street in downtown Marlborough, is set to transform the area with a 92,000 square-foot building featuring 92 high-end apartments. The project also includes approximately 3,500 square feet of ground-level retail and restaurant space, designed to enhance the vibrancy of the downtown area. Residents will enjoy access to an impressive 8,600 square-foot amenity and mezzanine space, complete with premium features such as a state-of-the-art fitness center, a relaxing lap pool, and a sun deck with comfortable lounge areas. Parking will be convenient with an 84-space garage dedicated for residents.
This ambitious project is situated within a Qualified Opportunity Zone, a factor that provides attractive tax benefits for long-term investors like TwinFocus Real Estate Partners. This designation aligns with TwinFocus’s investment strategy, which often focuses on opportunities that offer both strong returns and positive community impact.
The financing for 57 Main was structured with joint venture equity from TwinFocus Real Estate Partners and a construction loan from a syndicate led by HarborOne Bank, with participation from Westfield Bank. This collaborative financial structure underscores the confidence in the project and the Marlborough market.
According to Sean Burke of the Colliers team, “This development is crucial for bringing much-needed housing to a key employment hub in Massachusetts. The combination of a walkable downtown location and exceptional amenity space at 57 Main positions it for great success. We appreciate Procopio’s dedication and the efficiency of TwinFocus and HarborOne in closing this deal smoothly.”
The location of 57 Main offers future residents unparalleled access to Marlborough’s thriving downtown. A wide array of dining, entertainment, and coffee shops are within easy walking distance. Furthermore, its proximity to major roadways including I-495, Route 9, I-290, and I-90 ensures convenient commutes to employment centers and retail destinations throughout the region.
TwinFocus Real Estate Partners’ investment in 57 Main Marlborough signifies their strategic focus on high-potential development projects in prime locations. This partnership is poised to deliver a premier residential experience in Marlborough, contributing to the city’s growth and appeal.
