MassHousing & Rockport Mortgage Refinance $50M Loan For Clarendon Hill Towers Apartments

The 501-unit Clarendon Hill Towers Apartments located at 1372 Broadway in Somerville, MA, is the subject of a $50 million refinancing deal. This substantial loan amount was provided by Dan Lyons from Rockport Mortgage Corporation and Chrystal Kornegay from MassHousing. The property belongs to Andrew Comollo of Connolly & Partners, LLC.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,000,000
• Units: 501
• Lender: Dan Lyons - Rockport Mortgage Corporation & Chrystal Kornegay - MassHousing
• Landlord: Andrew Comollo - Connolly & Partners, LLC

The $50 million financing provided by MassHousing will enable property improvements at the Clarendon Hill Towers Apartments. This deal involves key players Dan Lyons, Chrystal Kornegay, and Andrew Comollo, each contributing to the successful refinancing transaction.