Town Of Nantucket Secures $32 Million Construction Loan From Kelly Nguyen Of Rockland Trust Bank For 64-Unit Multifamily Asset
FINANCED
$32,000,000
Massachusetts
See Similar DealsMultiFamily
Financed 12/18/2025
FINANCED
Town Of Nantucket Secures $32 Million Construction Loan From Kelly Nguyen Of Rockland Trust Bank For 64-Unit Multifamily Asset
6 Fairgrounds Road
See Similar DealsMultiFamily
Financed 12/18/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 6 Fairgrounds Road - Ticcoma Green in Nantucket, MA, comprising 64 units. The loan amount secured for construction is $32,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $32,000,000
- Lender: Kelly Nguyen - Rockland Trust Bank
- Landlord: Town of Nantucket
- Loan Type: Construction
Kelly Nguyen of Rockland Trust Bank is the lender for the transaction, representing financial interests in the development project overseen by the Town of Nantucket. The multifamily project is set to contribute to the local housing market by providing additional residential units in the area.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,000,000.00
Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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