MultiFamily Housing

COALITION FOR A BETTER ACRE, INC. FINANCES ACQUISITION AND REHABILIATION OF HISTORIC DRACUT CENTRE SCHOOL

Congratulations to Coalition for a Better Acre, Inc. in closing the financing of Dracut Centre School, which will finance the rehabilitation of the historic school building located at 11 Spring Park Avenue in Dracut. Through financing from Pentucket Bank and several public lenders, Dracut Centre School will create 9 units of affordable housing for the residents of the town of Dracut.

EASTERN BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Eastern Bank in closing a $10.5MM loan for the benefit of Cabot Housing LLC, an affiliate of the Young Men’s Christian Association of the North Shore, Inc. Eastern Bank purchased tax exempt bonds from Massachusetts Development Finance Agency and made the proceeds from the sale of the bonds available to finance the acquisition and renovation of Cabot House in Beverly, Massachusetts. Cabot House will provide 67 affordable housing units for residents of the city of Beverly.

BOSTON PRIVATE BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Boston Private Bank & Trust Company in closing a $25MM loan for the benefit of 90 Longwood LLC, an affiliate of the Brookline Housing Authority. Boston Private purchased tax exempt bonds from Massachusetts Housing Finance Agency and made the proceeds from the sale of the bonds available to finance the acquisition and rehabilitation of Morse Apartments, which shall provide 98 units of affordable rental housing for families living in the town of Brookline, Massachusetts.

BOSTON PRIVATE BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Boston Private Bank & Trust Company in closing a $25MM loan for the benefit of 61 Park LLC, an affiliate of the Brookline Housing Authority. Boston Private purchased tax exempt bonds from Massachusetts Housing Finance Agency and made the proceeds from the sale of the bonds available to finance the acquisition and rehabilitation of Arthur O’Shea House, which shall provide 99 units of affordable rental housing for families living in the town of Brookline, Massachusetts.