News

21 Dec

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.

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02 Nov

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 [...]

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01 Aug

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.

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09 May

GROUNDBREAKING CEREMONY FOR SQUIRRELWOOD APARTMENTS

Congratulations to Just-A-Start on the ceremonial groundbreaking for Squirrelwood Apartments, which will provide a total of 78 affordable residential units at 40 and 54 Market Street, 200, 204, 210 Columbia Street, 261-263, 265, 267, and 269 Broadway, 1-6 Linwood Place, 8-12 and 17 Boardman Street, Cambridge, Massachusetts. On May 16, 2019, Massachusetts Housing Partnership Fund Board, a Massachusetts public instrumentality and body politic and corporate, acting for itself and as agent for the following lenders: The Commonwealth of Massachusetts, [...]

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15 Nov

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 [...]

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24 Oct

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 [...]

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17 Aug

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 [...]

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17 Aug

REBA HOSTS 40B HOUSING APPEALS COMMITTEE FORUM

On May 23, 2018, the Real Estate Bar Association (REBA) Affordable Housing Section hosted a brownbag lunch forum to discuss recent 40B Housing Appeals Committee (HAC) and court decisions. Co-Chairs Kurt James of KJP and Carol McIver of MassHousing moderated a panel discussion on recent significant decisions by HAC and the courts and the impacts of those decisions on affordable housing development. The guest speakers at this event were Shelagh A. Ellman-Pearl, Chair of the Housing Appeals Committee at the [...]

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25 Jul

THE PROPERTY AND CASUALTY INITIATIVE CLOSES NEW MARKETS TAX CREDIT TRANSACTION

Congratulations to the Property and Casualty Initiative on closing a $4 MM and $6.5 MM loans for the benefit of Community Servings, Inc, a charitable corporation that provides hot meals to area residents with acute life-threatening illnesses, as well as their families and caregivers. This complex transaction, which involved many dedicated parties, will support the improvement and expansion of Community Serving’s location at 18 Marbury Place in Boston. These improvements include the refinancing of debt associated with the earlier [...]

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17 Apr

REBA HOSTS LEGISLATIVE FORUM

On April 10, 2018, the Real Estate Bar Association (REBA) Affordable Housing Section hosted a brownbag lunch forum to discuss the Commonwealth’s legislative housing agenda for 2018 – 2019. Co-Chairs Kurt James of KJP and Carol McIver of MassHousing moderated a panel discussion on the various budget proposals affecting housing development and financing. Included in this year’s legislative housing agenda, among other initiatives, are An Act to Promote Housing Choices (the Governor’s Housing Choice Initiative), An Act Financing The Production [...]

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