MassHousing Acquires Multifamily Property In Cambridge, MA For $45M

The property involved in this transaction is a multifamily asset located at 30-50 Churchill Avenue in Cambridge, MA. The deal, which took place on 07/07/2020, was facilitated by masshousing''>MassHousing and the loan amount was $45,000,000. The property consists of 198 units and is owned by the Cambridge Housing Authority.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $45,000,000
• Units: 198
• Lender: MassHousing - Chrystal Kornegay
• Landlord: Cambridge Housing Authority - Michael Johnston

Chrystal Kornegay, representing MassHousing, played a crucial role in this transaction. Additionally, Michael Johnston from the Cambridge Housing Authority was involved as the landlord. The deal showcases the collaborative efforts between the lending institution and the housing authority.