FINANCED
Homeowners Rehab, Inc Secures $87.2M Loan For 300-Unit Apartment In Cambridge
808 Memorial Drive
Other
120,918 SF
120,918 SF
Financed 1 year ago
Summary
Loan
MASSACHUSETTS
Other
120,918 sqft
Homeowners Rehab, Inc has secured a loan from masshousing''>MassHousing for the property at 808 Memorial Drive in Cambridge. The asset is an apartment building consisting of 300 units. The loan amount is $87,200,000.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $87,200,000
- Borrower: Homeowners Rehab, Inc – Peter Daly
- Lender: MassHousing – Chrystal Kornegay
- Loan Terms: $61.5 million tax-exempt construction and permanent loan, $24.9 million in taxable and tax-exempt tax credit equity bridge financing, $787,763 interest reduction
Chrystal Kornegay, representing MassHousing, facilitated the loan for this transaction.
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: IMAGE: Chrystal Kornegay
DATE: 08/04/2020
ADDRESS: 808 Memorial Drive
MARKET: Cambridge
ASSET TYPE: Apartment
BORROWER: Homeowners Rehab, Inc – Peter Daly
LENDER: MassHousing – Chrystal Kornegay
LOAN AMOUNT: $87,200,000
LOAN TERMS: $61.5.5 million tax-exempt construction and permanent loan, $24.9.9 million in taxable and tax-exempt tax credit equity bridge financing, $787,763 interest reduction […]
UNITS: 300View on map
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Address808 Memorial Drive
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