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MassHousing Provides $16.8M Housing Financing For Charlestown Multifamily Property

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FINANCED
$16,800,000

Massachusetts

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MultiFamily
Financed 07/21/2022
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Property Image
FINANCED

MassHousing Provides $16.8M Housing Financing For Charlestown Multifamily Property

9 West School Street, Charlestown, Massachusetts 02129, United States

See Similar Deals
MultiFamily
Financed 07/21/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

A multifamily property consisting of 48 units located at 9 West School St in Charlestown, MA has recently secured housing financing. The loan amount for this transaction is $16,800,000, facilitated by masshousing''>MassHousing. The lender representative involved in this deal is Chrystal Kornegay. The landlord for this property is Affordable Housing & Services Collaborative, represented by Michael J. Mattos and Peabody Properties.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,800,000
  • Address: 9 West School St
  • Market: Charlestown, MA
  • Units: 48

Chrystal Kornegay, representing MassHousing, played a crucial role in providing the necessary housing financing for the acquisition of this multifamily property. The collaboration between Affordable Housing & Services Collaborative, led by Michael J. Mattos and Peabody Properties, has made this transaction possible, ensuring the availability of affordable housing in the area.

Players

LENDER


Details

FINANCED
IMAGE: Chrystal Kornegay DATE: 07/21/2022 ADDRESS: 9 West School St MARKET: Charlestown, MA ASSET TYPE: Multifamily ~ UNITS: 48 LENDER: MassHousing - Chrystal Kornegay LANDLORD: Affordable Housing & Services Collaborative - Michael J. Mattos & Peabody Properties LOAN AMOUNT: $16,800,000 LOAN TYPE: Housing financing

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,800,000.00

Monthly NOI$112,000.00
Monthly Debt Service$106,187.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00