Financial Digest

Cornerstone Realty Capital arranges $38.2 million for multifamily portfolio

Medford, MA Cornerstone Realty Capital arranged $38.2 million in financing for the refinance of a portfolio of apartment properties located throughout Malden and Medford. The portfolio, comprising 265 units spread across nine buildings

MassHousing closes on $2.8 million in financing for workforce housing to The Community Builders

Northampton, MA MassHousing has closed on $2.8 million in affordable workforce housing financing to The Community Builders (TCB) for the ongoing construction of the 12-unit 35 Village Hill Rd. Valley Community Development Corp. is the project co-sponsor.

The Real Estate Finance Association update – Keeping members engaged at home

Boston, MA Two months into the work from home mandate, the Real Estate Finance Association (REFA) continues to work hard to create valuable virtual content for its membership during this time to keep its membership engaged.

Black, Burke and Koop of Colliers handle $48 million financing for The Woodlands Apartments

Middleborough, MA Colliers International’s executive vice president Jeff Black and assistant vice presidents Sean Burke and Bryan Koop of its Capital Markets team arranged $48 million

Berkadia secures $211.25 million refinancing for Hancock Village

Chestnut Hill, MA Berkadia has secured financing for Hancock Village, a townhome community. Managing director Robert Lipson of Berkadia’s Shrewsbury, N.J. office secured the $211.25 million

Rockport Mortgage closes $42.7m in financing for Melville Towers owned by Affordable Housing & Services Collab.

New Bedford, MA Rockport Mortgage Corp. has closed an FHA Section 223(f) refinancing loan totaling $42.7 million for Melville Towers, an elderly apartment complex located at 850 Pleasant St.

Cornerstone Realty Capital arranges $78.6 million for the development of Breakwater North Harbor in Lynn, MA

Lynn, MA Cornerstone Realty Capital arranged $78.6 million for the construction to permanent financing of a 331-unit luxury apartment property. The project, known as Breakwater North Harbor, is being developed by Lynn Redevelopment, LLC

O’Donnell, Tousignant and Feig of Fantini & Gorga arrange $9.165m in financing for Roxbury Highlands

Roxbury, MA Fantini & Gorga has arranged permanent financing of $9.165 million for Roxbury Highlands. Roxbury Highlands is comprised of 50 affordable apartments supported by HUD project-based subsidies, two market rate apartments and three commercial spaces.

JLL arranges $5.6m refinancing for 56,000 s/f industrial building

Wilmington, MA JLL Capital Markets has arranged a $5.6 million refinancing for 271 Ballardvale St., a 56,000 s/f, fully leased, light manufacturing industrial building. JLL worked on behalf of the borrower

The Real Estate Finance Association March update – REFA hosts its first webinar

While some planned REFA events had to be cancelled due to concerns surrounding the ongoing COVID-19, REFA is working hard to act as a resource and keep its membership engaged virtually during this time.