Updated Oct 28, 2026
Lake Hill Investment Group Secures $22.54 Million Loan From Eastern Bank Corporation For Multifamily Portfolio
1 Peckham Avenue
$22,540,000
$140/SF
Building Size
160,801 SF
Asset Type
MultiFamily
Closing
Oct 1, 2026
About this deal
AI
The asset involved in this transaction is a MultiFamily property located at multiple addresses including 1 Peckham Avenue, 1 Peckham Court, 10 Lincoln Street, 11 Lincoln Street, 12 Goodwin Street, 14 Lincoln Street, 14 Rosa Terrace, 141-143 Gibson Avenue, 16 Burnside Avenue, and 17 Bayview Avenue in Newport, RI. The property consists of 98 units and has a loan amount of $22,540,000 secured from Eastern Bank Corporation.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $22,540,000
- Lender: Eastern Bank Corporation
- Borrower: Lake Hill Investment Group
- Brokers: Michael Zaremski & Clayton Ross - JLL
- Location: Newport, RI
- Asset Units: 98
Michael Zaremski and Clayton Ross from JLL represent the interests of Lake Hill Investment Group in this transaction. The deal encapsulates a strategic move for the borrower within the Newport market, facilitated by the broker's expertise in multi-family assets.
On the Map
$22,540,000
$140/SF
MultiFamily
View full map
Players
Newport MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Michael Zaremski to view all their deals.
Browse Newport multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93