Congratulations to Eastern Bank in closing a $19MM loan for the benefit of NWHS Holbrook Center Senior Owner LLC, an affiliate of Neighborhood Housing Services of the South Shore, Inc. The proceeds of the loan will finance the construction of Holbrook Senior Center, a mixed-use development at 120 North Franklin Street, 132 and 132R North Franklin Street, 27 Maple Avenue, and 31 Maple Avenue, Holbrook, Massachusetts. Holbrook Senior Center will provide 70 units of affordable rental housing to seniors in Holbrook. The closing included anticipated permanent financing of $4.5MM from the Massachusetts Housing Partnership Fund Board to ensure continued affordability for the project.
MARION VILLAGE ESTATES REFINANCES FHA-INSURED AFFORDABLE HOUSING
Congratulations to Marion Village Estates LLC in closing a $3,832,200.00 loan from ORIX Real Estate Capital, LLC in order to refinance the property at Front Street in Marion, Massachusetts. Marion Village Estates provides 60 units of affordable rental housing to the...