MassHousing Closes $16.4M Loan For 52-Unit Development Site In New Bedford, MA | MassHousing Closes $16.4M Loan For 52-Unit Development Site In New Bedford, MA | MassHousing | Development Site | Loan

Summary

Loan

MASSACHUSETTS

Development Site

MassHousing has closed on $16.4 million in affordable housing financing for the development of 10 @ 8th in downtown New Bedford, Massachusetts. The project, led by Alinea Capital Partners, will introduce 52 new rental homes to the area.

Summary of transaction details

Property Type: Development Site
Transaction Amount: $16,400,000
Units: 52
Lender: MassHousing - Chrystal Kornegay
Landlord: L. Duane Jackson - Alinea Capital Partners

The financing was provided by MassHousing, with Chrystal Kornegay representing the lender. L. Duane Jackson, from Alinea Capital Partners, will serve as the landlord for 10 @ 8th.

Players

All
1

Lenders
1

MassHousing

Details

Deal Summary

FINANCED

IMAGE: Chrystal Kornegay & L. Duane Jackson DATE: 01/29/2024 MARKET: New Bedford, MA ASSET TYPE: Development Site ~ UNITS: 52 LENDER: MassHousing - Chrystal Kornegay LANDLORD: L. Duane Jackson - Alinea Capital Partners LOAN AMOUNT: $16,400,000 NOTE: MassHousing has closed on $16.4 million in affordable housing financing for the development of 10 @ 8th, a project by Alinea Capital Partners that will bring 52 new rental homes to downtown New Bedford, Massachusetts.

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AddressMassHousing Closes $16.4M Loan For 52-Unit Development Site In New Bedford, MA

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