Putnam School Apartments LLC Secures $10.3M Loan For Cambridge Apartment Property

The Putnam School Apartments LLC in Cambridge, MA has secured a loan worth $10,345,000 for their apartment property located at 86 Otis St. The loan transaction took place on February 17, 2022. massdevelopment''>MassDevelopment, represented by Mike Kennealy and Dan Rivera, along with Silicon Valley Bank, represented by Peter Hollands, provided the loan to the landlord.

Summary of transaction details

• Property Type: Apartment
• Transaction Amount: $10,345,000
• Address: 86 Otis St, Cambridge, MA
• Market: Cambridge, MA
• Asset Type: Apartment
• Unit: 33
• Lender: MassDevelopment - Mike Kennealy & Dan Rivera; Silicon Valley Bank - Peter Hollands
• Landlord: Putnam School Apartments LLC

The loan was provided by MassDevelopment, jointly represented by Mike Kennealy, Secretary of Housing and Economic Development in Massachusetts, and Dan Rivera, the former mayor of Lawrence, MA. In addition, Peter Hollands from Silicon Valley Bank played a significant role in the loan deal. The loan will support the ongoing operation and development of the Putnam School Apartments in Cambridge, MA.