Davis Provides $44M Construction Financing for Downtown Residential Conversion
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Boston life sciences absorption has moderated from its 2021-2022 pace, and the market is working through a meaningful Cambridge sublease overhang. Multifamily and trophy office remain durable. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The eighth Boston story tracked on the wire in October 2026. All Boston coverage →
- Disclosed multifamily deal value tracked in October 2026: $1.1B across 19 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
JLL Capital Markets announced today that it has arranged $44 million in financing for 31 Milk St., an adaptive reuse multifamily redevelopment in Downtown Boston. Managing director Anthony Cutone, director Madeline Jo…
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