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

Summary

Loan

MASSACHUSETTS

Development Site

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.

Players

All
1

Lenders
1

MassHousing

Details

Deal Summary

FINANCED

IMAGE: Chrystal Kornegay & Adam Stein DATE: 02/09/2024 MARKET: Swampscott, MA ASSET TYPE: Development Site ~ UNITS: 114 LENDER: Chrystal Kornegay - MassHousing LANDLORD: Adam Stein - WinnDevelopment LOAN AMOUNT: $69,100,000 NOTE: WinnDevelopment, the development arm of WinnCompanies, has secured financing for The Westcott, a 114-unit mixed-income apartment community, slated for completion by mid-2025.

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

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