Colliers Secures $23M Construction Loan For Apartment Building At 52 School Street In Everett
52 School Street
Summary
A $23 million financing package has been secured by Colliers, on behalf of RISE and btcRE, for the development of a new apartment building at 52 School Street in Everett, MA. The funding includes a $15 million construction loan and $8 million in joint venture equity. The project aims to develop 46 modern apartment units in a thriving residential neighborhood on the outskirts of Everett's Commercial Triangle Economic Development District.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $23,000,000
- Loan Type: Construction
- Address: 52 School Street
- Market: Everett, MA
- Landlord: RISE - Herby Duverne
- Brokers: Tom Welch, Adam Coppola & Patrick Boyle - Colliers
Colliers, represented by brokers Tom Welch, Adam Coppola, and Patrick Boyle, played a crucial role in securing the funding for the development of the apartment building at 52 School Street. The project will contribute to the growth of a residential neighborhood on the outskirts of Everett's Commercial Triangle Economic Development District.
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