Kathy Mcgilvray Of The Neighborhood Developers Acquires Park & Pearl Portfolio For $7.8M

The transaction involves a multifamily asset located at 161-165 Pearl Street, 156-160 Park Street, and 148 Park Street in Chelsea, MA. The Park & Pearl portfolio consists of 30 units. The sale was completed for a total price of $7,800,000, resulting in a price per unit of $260,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,800,000
• Buyer: Kathy Mcgilvray - The Neighborhood Developers
• Lender: Moddie Turay - Massachusetts Housing Investment Corporation
• Units: 30
• Price Per Unit: $260,000

Kathy Mcgilvray represented The Neighborhood Developers in the acquisition of the property. The financing for the purchase was secured through Moddie Turay of the Massachusetts Housing Investment Corporation, which provided acquisition loans through its NOAH fund to support the nonprofit's acquisition of the multifamily properties.