Updated Oct 28, 2024
MassHousing Provides $28.8M Refinance Loan For Senior Housing In Roxbury, MA
2875 Washington Street, Roxbury, MA, USA
$28,800,000
Building Size
—
Asset Type
Other
Closing
Dec 7, 2021
About this deal
AI
The senior housing property located at 2875 Washington St in Roxbury, MA has recently undergone a significant financial transaction. The property, owned by Council of Elders Housing Corporation, secured a $28,800,000 loan through a refinancing arrangement. The loan was provided by masshousing''>MassHousing, with Chrystal Kornegay representing the lending agency.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $28,800,000
- Date: 12/07/2021
- Market: Roxbury, MA
- Lender: MassHousing - Chrystal Kornegay
- Landlord: Council of Elders Housing Corporation
- Loan Type: Refinance
- Loan Term: 35-year permanent loan
This financial agreement is expected to provide stable and affordable housing options for seniors in the area, fostering a supportive community for this demographic. With a 35-year loan term, Council of Elders Housing Corporation can confidently manage and operate the senior housing facility to meet the needs of its residents.
Players
Boston Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93