News & Events

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.

BOSTON PRIVATE BANK CLOSES $2,335,000 LOAN TO PROVIDE HOMEOWNERSHIP OPPORTUNITIES IN EVERETT

Congratulations to Boston Private Bank & Trust Company in closing a $2,335,000 loan for the benefit of Broadway Everett TND LLC, an affiliate of The Neighborhood Developers, Inc. The proceeds of the loan will finance the acquisition of 10-20 Gledhill Avenue, Everett, Massachusetts and the construction of six residential condominium units. These units will provide affordable homeownership opportunities for the residents of Everett.

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 $10MM LOAN TO PROVIDE HOUSING FOR SENIORS IN EVERETT

Congratulations to Boston Private Bank & Trust Company in closing a $10MM loan for the benefit of St. Therese 9% LLC, an affiliate of The Neighborhood Developers, Inc. The proceeds of the loan will finance the acquisition of 787-801 Broadway, Everett, Massachusetts and the construction of the 9% Residential Unit of the St. Therese Condominium. The 9% Residential Unit will provide 44 units of affordable rental housing to the seniors of Everett, Massachusetts.

BOSTON PRIVATE BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Boston Private Bank & Trust Company in closing a $11MM loan for the benefit of St. Therese 4% LLC, an affiliate of The Neighborhood Developers, Inc. 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 of 787-801 Broadway, Everett, Massachusetts and the construction of the 4% Residential Unit and the 4% Health Center Unit of the St. Therese Condominium. [...]

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.

HOUSING CORPORATION OF ARLINGTON FINANCES DOWNING SQUARE INITIATIVE

Congratulations to the Housing Corporation of Arlington in closing the Downing Square Initiative, which will finance the demolition and reconstruction of buildings located at 117 Broadway, 19R Park Avenue, and 0 Lowell Street, Arlington, Massachusetts. Through financing from The Property and Casualty Initiative, LLC, Leader Bank, N.A., and several public lenders, the Downing Square Initiative will create 48 units of affordable housing for the residents of the town of Arlington.