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Colliers Secures $62M Refinancing For 230-Unit Apartment Complex In East Boston

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FINANCED
$62,000,000
Sean Burke
Bryan Koop
+ 2

Massachusetts

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MultiFamily
Financed 07/01/2024
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Property Image
FINANCED

Colliers Secures $62M Refinancing For 230-Unit Apartment Complex In East Boston

144 Addison Street

See Similar Deals
MultiFamily
Financed 07/01/2024
Sean Burke
Bryan Koop
+ 2
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property involved in the transaction is located at 144 Addison Street in East Boston, MA. The property consists of 230 units and has undergone a refinancing process with a loan amount of $62,000,000 secured by Colliers International on behalf of a joint venture between Redgate Capital Partners, North River Company, and ELV Associates.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $62,000,000
  • Address: 144 Addison Street
  • Market: East Boston, MA
  • Units: 230
  • Landlord: Redgate Capital Partners, North River Company, ELV Associates, Inc & CrossHarbor Capital Partners
  • Brokers: Bryan Koop, Jeffrey Black, Kevin Phelan, Matthew Lombardi & Sean Burke - Colliers International

The $62 million refinancing deal for the 230-unit apartment complex in East Boston involved key individuals such as Bryan Koop, Jeffrey Black, Kevin Phelan, Matthew Lombardi, and Sean Burke from Colliers International who facilitated the transaction on behalf of the joint venture comprising Redgate Capital Partners, North River Company, and ELV Associates.

Players

Bryan Koop
9 deals$697.3M volume
BROKER

Sean Burke
Colliers
9 deals$701.9M volume
BROKER

Kevin Phelan
Colliers
7 deals$448.5M volume
BROKER

Jeffrey Black
Colliers
9 deals$740.9M volume(617) 512-5440
BROKER

Matthew Lombardi Jr
Colliers
2 deals$138.2M volume(617) 330-8000
BROKER

Details

FINANCED
IMAGE: Bryan Koop, Jeffrey Black, Kevin Phelan, Matthew Lombardi & Sean Burke DATE: 07/01/2024 ADDRESS: 144 Addison Street MARKET: East Boston, MA ASSET TYPE: Multifamily ~ UNITS: 230 LANDLORD: Redgate Capital Partners, North River Company, ELV Associates, Inc & CrossHarbor Capital Partners BROKERS: Bryan Koop (@Koop_B), Jeffrey Black, Kevin Phelan, Matthew Lombardi & Sean Burke - Colliers International (@ColliersInternational) LOAN AMOUNT: $62,000,000 LOAN TYPE: Refinance NOTE: Colliers has secured a $62 million refinancing for Addison, a 230-unit apartment complex in East Boston, on behalf of a joint venture between Redgate Capital Partners, North River Company, and ELV Associates.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$62,000,000.00

Monthly NOI$413,333.33
Monthly Debt Service$391,882.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00