Updated Mar 10, 2026
Procopio Companies TwinFocus Real Estate Partners And Beverly Crossing Secure $22 Million Refinancing For Amara In Beverly MA
6 Rantoul Street
$22,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 9, 2026
About this deal
AI
A refinancing occurred involving a multifamily asset located at 6 Rantoul Street in Beverly, MA. The deal was valued at $22,000,000 and pertains to a new apartment building, Amara, which is situated in downtown Beverly, Massachusetts. The refinancing supports the recently completed residential project in the city’s core.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,000,000
- Address: 6 Rantoul Street
- Market: Beverly, MA
- Loan Type: Refinance
- Landlord: Michael Procopio - Procopio Companies
- Landlord: Paul Karger - TwinFocus Real Estate Partners
- Landlord: Chris Koeplin - Beverly Crossing
The refinancing was secured by The Procopio Companies, TwinFocus Real Estate Partners, and Beverly Crossing, showcasing collaboration among these entities for the completion of the financing arrangement for the Amara project.
On the Map
$22,000,000
MultiFamily
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Players
Beverly 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93