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MassHousing Refinances Dorchester Multifamily Property For $31.4M

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FINANCED
$31,400,000

Massachusetts

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MultiFamily219 SF
Financed 09/21/2021
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Property Image
FINANCED

MassHousing Refinances Dorchester Multifamily Property For $31.4M

132 Seaver Street, Boston, MA, USA

See Similar Deals
MultiFamily219 SF
Financed 09/21/2021
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$143,379
Total Square Footage:219 SF
Transaction Type:Loan

The multifamily property located at 132 Seaver St in Dorchester, MA has recently undergone a refinancing transaction. The property consists of 219 units and is owned by The Community Builders Inc. The loan was provided by masshousing''>MassHousing and Chrystal Kornegay, the Executive Director of MassHousing, represented the lender in this transaction. The loan amount for the refinancing was $31,400,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $31,400,000
  • Address: 132 Seaver St, Dorchester, MA
  • Units: 219
  • Lender: MassHousing - Chrystal Kornegay
  • Landlord: The Community Builders Inc.

Chrystal Kornegay, who is the Executive Director of MassHousing, played a key role as the lender's representative in this refinancing deal for the multifamily property at 132 Seaver St, Dorchester. With her expertise and involvement, this successful transaction was completed.

Players

MassHousing
MassHousing
LENDER
TI
The Community Builders Inc.
LANDLORD

Details

FINANCED
IMAGE: Chrystal Kornegay DATE: 09/21/2021 ADDRESS: 132 Seaver St MARKET: Dorchester, MA ASSET TYPE: Multifamily ~ UNITS: 219 LENDER: MassHousing - Chrystal Kornegay LANDLORD: The Community Builders Inc. LOAN AMOUNT: $31,400,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,400,000.00

Monthly NOI$209,333.33
Monthly Debt Service$198,469.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00