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MassHousing Provides $21M Financing For The Pointe At Hills Farm In Shrewsbury
FINANCED
$21,000,000
Massachusetts
See Similar DealsMultiFamily
Financed 01/12/2024
FINANCED
MassHousing Provides $21M Financing For The Pointe At Hills Farm In Shrewsbury
526 Hartford Turnpike
See Similar DealsMultiFamily
Financed 01/12/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
MassHousing has provided $21 million in financing for The Pointe at Hills Farm, a 93-unit mixed-income housing project located at 526 Hartford Turnpike in Shrewsbury, Massachusetts. The property is situated just outside of Worcester in the Shrewsbury market.
Summary of transaction details:
- Property Type: Multifamily
- Number of Units: 93
- Loan Amount: $21,000,000
- Lender: Chrystal Kornegay - MassHousing
- Landlord: Gilbert Winn - WinnCos
Chrystal Kornegay, representing MassHousing, facilitated the $21 million financing deal for The Pointe at Hills Farm. Gilbert Winn, from WinnCos, serves as the landlord for the property, located in the Shrewsbury market. The project brings mixed-income housing options to the area, offering 93 units for residents.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,000,000.00
Monthly NOI$140,000.00
Monthly Debt Service$132,734.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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