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Andrew Chaban Of Princeton Properties & National Development Secures $30.4 Million Construction Loan From Berkshire Bank For Multifamily Project In Wilmington MA

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FINANCED
$30,400,000

Massachusetts

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MultiFamily
Financed 08/11/2025
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FINANCED

Andrew Chaban Of Princeton Properties & National Development Secures $30.4 Million Construction Loan From Berkshire Bank For Multifamily Project In Wilmington MA

201 Jefferson Road

See Similar Deals
MultiFamily
Financed 08/11/2025
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved in this transaction is Princeton Wilmington Apartment Homes, located at 201 Jefferson Road in Wilmington, MA. This asset is classified as multifamily and is tied to a construction loan facilitated through Berkshire Bank.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $30,400,000
  • Lender: Berkshire Bank
  • Landlord: Andrew Chaban - Princeton Properties & National Development
  • Loan Type: Construction

This transaction involves Andrew Chaban, representing Princeton Properties and National Development, ensuring the financing for the construction of the multifamily development is secured effectively through Berkshire Bank.

Players

Berkshire Bank
Berkshire Bank
LENDER
ND
National Development
LANDLORD
PP
Princeton Properties
LANDLORD

Details

FINANCED
IMAGE: Andrew Chaban DATE: 08/11/2025 ADDRESS: 201 Jefferson Road MARKET: Wilmington, MA ASSET TYPE: Multifamily LENDER: Berkshire Bank (@BerkshireBank) LANDLORD: Andrew Chaban - Princeton Properties & National Development LOAN AMOUNT: $30,400,000 LOAN TYPE: Construction NOTE: Princeton Properties and National Development secured a $30.4 million construction loan from Berkshire Bank to build Princeton Wilmington Apartment Homes.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,400,000.00

Monthly NOI$202,666.67
Monthly Debt Service$192,148.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00