Preservation Of Affordable Housing (POAH) Acquires Multifamily Property In Salem, MA With $61M Construction Loan From Rockland Trust

The multifamily property located at 12 Pope Street in Salem, MA has recently undergone a closed transaction. The property, owned by Preservation of Affordable Housing (POAH) and represented by Dena Xifaras, has a total of 281 units. The transaction involved a construction loan provided by Rockland Trust, with Heidi Yates as the lender. The loan amount for this transaction was $61,000,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $61,000,000
• Address: 12 Pope Street, Salem, MA
• Market: Salem, MA
• Units: 281
• Landlord: Preservation of Affordable Housing (POAH) - Dena Xifaras
• Lender: Rockland Trust - Heidi Yates

Heidi Yates from Rockland Trust acted as the lender in this transaction, providing a construction loan to facilitate the deal. Dena Xifaras represented Preservation of Affordable Housing (POAH) as the landlord throughout the transaction.