Wingate Multifamily Welcomes J.P. Morgan Real Estate Income Trust, Inc. as a Joint Venture Partner at Baker Chocolate Factory Apartments

BISWIRE/Nov. 20, 2025 — Wingate Multifamily, LLC, an affiliate of Wingate Companies of Newton, MA, is pleased to announce the successful recapitalization of Baker Chocolate Factory Apartments through a joint venture with J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT).

Originally acquired by a Wingate affiliate in December 2024 primarily on balance sheet, the transaction was recapitalized with equity from JPMREIT on October 2, 2025.

Baker Chocolate Factory Apartments is a distinctive historic mill community overlooking the Neponset River, offering 133 residences—including affordable homes reserved at 60% of Area Median Income.

Situated in the vibrant and walkable Lower Mills neighborhood of Dorchester, on the Milton town line and adjacent to the Milton Red Line station, the community offers residents convenient access to Boston’s major employment centers and is located just one mile from Interstate 93. JLL exclusively represented Wingate in securing the equity capital for the transaction.

“We are proud to partner with JPMREIT to further preserve and enhance an iconic property in one of Boston’s most vibrant neighborhoods. This collaboration—enabled by our longstanding relationship with JLL and Rob Hinckley—highlights a joint-venture model we look forward to replicating,” said Elizabeth Schuster, Senior Vice President at Wingate Companies.

As the Baker Chocolate Factory Apartments project continues to evolve, interested parties are encouraged to visit the property website at bakerchocolateapartments.com.