Updated Mar 11, 2025
MassHousing Grants $6.2M Loan For Affordable Senior Housing In Sandwich, MA
3 Leveridge Lane
$6,200,000
Units
44
Asset Type
Senior Housing
Closing
Nov 20, 2023
About this deal
AI
MassHousing has granted $6.2 million in financing to Shawme Heights Apartments, a 44-unit affordable senior housing complex located at 3 Leveridge Lane in Sandwich, Cape Cod. The loan was provided by Chrystal Kornegay, who represents MassHousing as the lender.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $6,200,000
- Units: 44
- Address: 3 Leveridge Lane, Sandwich, MA
- Market: Sandwich, MA
This financing will support the continued operation and maintenance of Shawme Heights Apartments, ensuring that it remains an affordable senior housing option in the area. The loan will contribute to the overall stability and sustainability of the complex, allowing residents to enjoy quality housing at an affordable cost.
On the Map
$6,200,000
Senior Housing
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Sandwich Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93