Richard Boynton Of Fairfield Residential Secures $78.98 Million Construction Loan From Regions Bank In Franklin

The asset involved in this transaction is a development site located at 121 Grove Street in Franklin, MA. Fairfield Residential has secured a construction loan of $78,976,132 from Regions Bank for this project, which will consist of a 330-unit multifamily community. The project is designed to incorporate 25% affordable units, extensive green space, and various amenities, including a clubhouse, pool, and co-working lounge.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $78,976,132
• Lender: Regions Bank
• Landlord: Richard Boynton - Fairfield Residential
• Market: Franklin, MA
• Loan Type: Construction
• Number of Units: 330
• Affordable Units Percentage: 25%
• Amenities: Clubhouse, pool, co-working lounge, extensive green space

Richard Boynton represents Fairfield Residential in this transaction, facilitating the construction loan secured from Regions Bank for the development project. This development effort aims to enhance the multifamily housing options in the Franklin market.