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MassHousing Refinances Multifamily Property In Lynn, MA For $10M

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FINANCED
$10,000,000

Massachusetts

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MultiFamily1,462 SF
Financed 07/26/2022
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Property Image
FINANCED

MassHousing Refinances Multifamily Property In Lynn, MA For $10M

301 Essex Street, Lynn, Massachusetts 01902, United States

See Similar Deals
MultiFamily1,462 SF
Financed 07/26/2022
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$6,839
Total Square Footage:1,462 SF
Transaction Type:Loan

Located at 301 Essex St in Lynn, MA, this multifamily property consists of 65 units. The transaction took place on July 26, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,000,000
  • Loan Type: Refinance

The lender involved in this transaction is masshousing''>MassHousing, with Chrystal Kornegay representing them. Additionally, Rockport Mortgage was also involved in the deal. The landlord for this property is Preservation of Affordable Housing.

Chrystal Kornegay, representing MassHousing, played a key role in securing the $10,000,000 loan for the property's refinance.

Players

Rockport Mortgage Corporation
Rockport Mortgage Corporation
LENDER
MassHousing
MassHousing
LENDER
PH
Preservation of Affordable Housing
LANDLORD

Details

FINANCED
IMAGE: Chrystal Kornegay DATE: 07/26/2022 ADDRESS: 301 Essex St MARKET: Lynn, MA ASSET TYPE: Multifamily ~ UNITS: 65 LENDER: MassHousing - Chrystal Kornegay & Rockport Mortgage LANDLORD: Preservation of Affordable Housing LOAN AMOUNT: $10,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,000,000.00

Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00