Suffolk Place LLC Secures $14.47M Loan For Mixed-Use Development In Lowell, MA

The property involved in this transaction is a mixed-use asset located at 408 Suffolk Street, Lowell, MA, featuring a total of 33 affordable housing units within a four-story building. The development includes 8,000 square feet of commercial space, which supports the local economy while providing essential housing options. The total loan amount secured for this project is $14,472,473.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $14,472,473
• Units: 33
• Commercial Space: 8,000 SF
• Address: 408 Suffolk Street
• Market: Lowell, MA
• Lender: Mass Housing Finance Agency; Enterprise Bank & Trust
• Landlord: Suffolk Place LLC

This financing deal involved Suffolk Place LLC as the landlord, which successfully secured funds from Mass Housing Finance Agency and Enterprise Bank & Trust to facilitate the development of the project. The agreement marks a significant commitment to enhancing the mixed-use landscape in Lowell with a focus on community needs.