WinnDevelopment Secures $69.1M Loan For 114-Unit Development Site In Swampscott, MA

The Westcott, a 114-unit mixed-income apartment community, has secured financing in Swampscott, MA. The development arm of WinnCompanies, WinnDevelopment, has obtained a loan amount of $69,100,000 from Chrystal Kornegay, representing MassHousing. The construction of The Westcott is expected to be completed by mid-2025.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $69,100,000
• Units: 114
• Market: Swampscott, MA

In this deal, the lender, Chrystal Kornegay from MassHousing, has provided the financing for The Westcott. The landlord for the project is Adam Stein, representing WinnDevelopment. Together, they have secured the necessary funding to bring this mixed-income apartment community to completion.