Newton Community Development Foundation Acquires Multifamily Property In Newtown, MA For $8.1M

The multifamily property located at 195 Summer Street in Newtown, MA has recently undergone a loan transaction. The borrower, Newton Community Development Foundation (NCDF) represented by Jeanne Strickland, secured a loan from Rockport Mortgage Corporation, represented by Dan Lyons. The loan amount was $8,100,000 for a property consisting of 43 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,100,000
• Address: 195 Summer Street
• Market: Newtown, MA
• Borrower: Newton Community Development Foundation (NCDF) - Jeanne Strickland
• Lender: Rockport Mortgage Corporation - Dan Lyons
• Broker: Chrystal Kornegay - MassHousing
• Units: 43

This transaction provides an opportunity for the Newton Community Development Foundation (NCDF) to continue its mission of supporting the local community. The loan from Rockport Mortgage Corporation, facilitated by Dan Lyons, will assist in the maintenance and improvement of the multifamily property located at 195 Summer Street. Chrystal Kornegay, representing MassHousing, acted as the broker in this deal, ensuring a smooth transaction between the borrower and lender.