FoxRock Properties Secures $128.2M Loan From Fannie Mae For 465-Unit Quincy Multifamily Project

The Ashlar Park apartments, located at 100 Whitwell Street in Quincy, consist of 465 residential units. The property is part of a multifamily development originally financed with a construction loan. The current loan secured by FoxRock Properties is valued at $128.2 million.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $128,200,000
• Address: 100 Whitwell Street
• Market: Quincy
• Units: 465
• Lender: Fannie Mae Delegated Underwriting & Servicing
• Landlord: Jason Ward - FoxRock Properties
• Original Construction Loan: $128,700,000 from Citizens Bank
• Construction Start Year: 2021
• Project Site: Former Quincy Medical Center
• Number of Buildings: Four residential buildings and a three-story community center
• Broker Representation: CBRE represents the borrower

Key individuals involved in this transaction include Jason Ward, who serves as the landlord and represents FoxRock Properties. The lender for this deal is Fannie Mae Delegated Underwriting & Servicing, facilitating the financial support required for the Ashlar Park project's completion.