Eastern Real Estate And The Kane Company Secure $96.8M Loan From Truist Bank For Portsmouth Multifamily

The asset involved in the transaction is Prescott Post, a 360-unit multifamily complex located at 100 Durgin Lane in Portsmouth, NH. The construction financing secured for this project amounts to $96,800,000, provided by Truist Bank. The first units are expected to be available in December 2026.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $96,800,000
• Lender: Truist Bank
• Landlord: Eastern Real Estate & The Kane Company
• Brokers: Brett Paulsrud, Andrew Gray & Hugh Doherty - JLL
• Units: 360
• Address: 100 Durgin Lane
• Market: Portsmouth, NH
• Loan Type: Construction

Key individuals in this transaction include Brett Paulsrud, Andrew Gray, and Hugh Doherty, who represent the landlords Eastern Real Estate and The Kane Company through their brokerage firm JLL. They played a crucial role in facilitating the loan from Truist Bank for the multifamily project.