FINANCED
Brady Capital Advisors Secures $31M Acquisition Loan For Pondsview Apartments In Billerica
13 Kenmar Drive
MultiFamily
Financed 48 days ago
Summary
Loan
MASSACHUSETTS
MultiFamily
The Pondsview Apartments, a 174-unit multifamily property spanning 4.5 acres located at 13-27 Kenmar Drive in Billerica, MA, has successfully secured $31 million in acquisition financing. The loan, facilitated by Patrick Brady of Brady Capital Advisors, features a five-year fixed rate. For the first three years, the loan will be interest-only, transitioning into a 27-year amortization period. The financing also offers a flexible prepayment structure.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Units: 174
- Acres: 4.5
- Market: Billerica, MA
Brady Capital Advisors successfully secured the acquisition financing for the Pondsview Apartments in Massachusetts on behalf of Fren Management. Patrick Brady, representing Brady Capital Advisors, played a crucial role in finalizing the $31 million loan for the multifamily property.
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Details
FINANCED
IMAGE: 02/15/2024
ADDRESS: 13-27 Kenmar Drive
MARKET: Billerica, MA
ASSET TYPE: Multifamily ~ UNITS: 174 ~ ACRES: 4.5
BROKER: Patrick Brady - Brady Capital Advisors
LOAN AMOUNT: $31,000,000
LOAN TYPE: Acquisition
LOAN TERMS: Five-year fixed rate, with three years of interest only followed by 27-year ammortization, and a flexible prepayment structure
NOTE: Brady Capital Advisors secures $31 million in acquisition financing for Pondsview Apartments, a 174-unit property in Massachusetts, on behalf of Fren Management.View on map
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Address13 Kenmar Drive
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