The Pondsview Apartments, a 174-unit multifamily property located at 13-27 Kenmar Drive in Billerica, MA, was subject to an acquisition loan amounting to $31,000,000. The loan, which was secured by Brady Capital Advisors, LLC, was specifically tailored as a 5-year fixed-rate financing option. This loan included an initial 3-year period of interest-only payments, offering financial support for the property purchase.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,000,000
• Units: 174
• Acres: 4.5
• Market: Billerica, MA
• Landlord: Fren Management
• Broker: Patrick Brady - Brady Capital Advisors

Patrick Brady of Brady Capital Advisors played a crucial role in negotiating the acquisition loan for the Pondsview Apartments. The expertise and experience brought to the deal by Brady Capital Advisors helped facilitate the successful closing of the financing, enabling the smooth acquisition of the multifamily property. Fren Management, as the landlord overseeing the property, entrusted the acquisition process to the capable hands of Patrick Brady, ensuring a favorable financial outcome for the transaction.