Tremont Asset Management Secures $44.5M Loan From Beacon Bank For Norwood Multifamily Development

The property asset involved in this transaction is a planned 145-unit multifamily development located at 259 Lenox Street, Norwood, MA. The loan amount secured for this construction project is $44,500,000, provided by Beacon Bank.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $44,500,000
• Address: 259 Lenox Street
• Market: Norwood, MA
• Lender: Beacon Bank
• Landlord: Tremont Asset Management LLC
• Units: 145
• Loan Type: Construction
• Brokers: Patrick Boyle, Matthew Lombardi Jr. & Rose Liu - Colliers

This transaction involves key players including Tremont Asset Management LLC as the landlord, and Beacon Bank as the lender for the construction loan. The brokers representing the deal are Patrick Boyle, Matthew Lombardi Jr., and Rose Liu from Colliers, facilitating the financing for this multifamily development project.