News & Events

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.

BOSTON PRIVATE BANK CLOSES $2MM LOAN TO PROVIDE HOUSING FOR TEACHERS IN WEST VIRGINIA

Congratulations to Boston Private Bank & Trust Company in closing a $2,000,000 loan for the benefit of Reconnecting McDowell, Inc. The proceeds of the loan will finance the construction of a 27,776 square foot mixed-use residential and office building including 16 affordable housing units at 9 Wyoming Street, Welch, West Virginia. These 16 units will provide housing for local public school teachers, allowing them to live in the communities they serve.

BOSTON PRIVATE BANK CLOSES TAX EXEMPT BOND FINANCING

Congratulations to Boston Private Bank & Trust Company for closing a $12,000,000 loan for the benefit of Friends of Excel Academy Charter Schools, Inc. Boston Private purchased tax exempt bonds from Massachusetts Development Finance Agency and made the proceeds from the sale of the bonds available to finance the construction of a 19,700 square foot middle school building located at 375 Bremen Street, East Boston, Massachusetts. The new middle school will include classrooms, offices, support rooms, and related [...]

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.

RIBBON CUTTING CEREMONY FOR RESIDENCES AT FAIRMOUNT STATION

Congratulations to Traggorth Companies LLC on the ceremonial ribbon cutting for Residences at Fairmount Station, a new 27-unit affordable residential building adjacent to the Fairmount Commuter Rail Station at 11 Nott Street, Hyde Park, Massachusetts. On July 21, 2017, the Commonwealth of Massachusetts, acting by and through the Department of Housing and Community Development under the Affordable Housing Trust Fund Statute, the Community Economic Development Assistance Corporation, the City of Boston, and the Massachusetts Housing Partnership Fund Board, acting [...]

REBA HOSTS OPPORTUNITY ZONE PROGRAM FORUM

On October 24, 2018, the Real Estate Bar Association (REBA) Affordable Housing Section hosted a brownbag lunch forum to discuss the new Opportunity Zone Program. Co-Chairs Kurt James of KJP and Josiah Madar of MassHousing moderated a panel discussion on the structuring opportunities and challenges created by this new program. The Opportunity Zone Program, created as part of the 2017 Tax Cuts and Job Acts, allows investors to reinvest proceeds from a capital transaction in to specially designated Opportunity Zones [...]

BOSTON PRIVATE BANK & TRUST COMPANY HOSTS DEMYSTIFYING FHA-INSURED MULTIFAMILY FINANCING SEMINAR

On May 24, 2018, Boston Private Bank & Trust Company hosted a seminar on FHA-insured multifamily financing. Kurt James of KJP moderated a panel discussion on leveraging untapped value in housing portfolios through FHA-insured financing. Topics covered in the seminar included the borrower’s perspective on FHA-insured executions, FHA financing basics and the role of the FHA lender, financing options and the role of the bank, the role of the consultant, and legal considerations of FHA-insured financing. The guest [...]