Town Of Nantucket Secures $32 Million Construction Loan From Kelly Nguyen Of Rockland Trust Bank For 64-Unit Multifamily Asset
6 Fairgrounds Road
$32,000,000
Units
64
Asset Type
MultiFamily
Closing
Dec 17, 2025
AI
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
Nantucket MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93