News:
Owners Developers & Managers
Posted: March 8, 2019
Eastern Mortgage Capital provides $31.77 million in permanent financing for Longview at Georgetown
Georgetown, MA Eastern Mortgage Capital has provided $31.77 million in permanent financing on Longview at Georgetown, a 186-unit multifamily property.
“We were delighted to be able to structure significant cash-out coupled with a 35-year fixed-rate for this asset, locking in today’s very low rate for the future,” said Peter Panagako, senior vice president of Eastern Mortgage Capital. “The FHA-insured financing provides a loan that amortizes fully over its 35-year term – so there’s no interest rate risk, and no ‘balloon risk,’ ever. As with all of our loans, this is non-recourse and assumable, and has a prepayment structure that avoids yield maintenance or defeasance.”
The loan also took advantage of the 223(f)’s “green” designation to materially lower the total cost of capital.
Eastern Mortgage Capital, which is based in Boston, obtained FHA mortgage insurance under the 223(f) program to deliver the 35-year fixed rate non-recourse financing.
Longview at Georgetown was constructed in 2002 and reflects the second Eastern Mortgage Capital transaction on the property.
MORE FROM Owners Developers & Managers
Routine Properties acquires Bristol Business Park at 383 Middle St. - 406,665 s/f industrial campus
Bristol, CT Routine Properties, a boutique real estate development and investment firm specializing in industrial assets throughout the Northeast, has acquired the Bristol Business Park, a 406,665 s/f industrial campus located at 383 Middle St.
.png)
Columns and Thought Leadership
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
 (1).png)