Year: 2020

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Rockport Mortgage Announces $36.4 Million in Financing for Borden Place Apartments

Refinancing extends senior housing’s affordability through 2055 GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of a $36.4 million FHA Section 223(f) refinancing loan for Borden Place Apartments, 261 units of age-restricted housing, located in downtown Fall River, MA. Managed by Peabody Properties since 1981, the development consists of two buildings, Borden Place East (145…

Rockport Mortgage Announces $19.9M in Financing for Bedford Towers in New Bedford

Refinancing extends affordability of the property through 2053 GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of a nearly $20 million FHA Section 223(f) refinancing loan for Bedford Towers, a 157-unit family and senior housing development located in New Bedford, Massachusetts. Originally constructed in 1977, the development consists of 1 high rise building and 7…

Rockport Mortgage Announces $8M in Financing for Casselman House in Newton

Refinancing extends affordability of the property through 2032 GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of an $8 million FHA Section 223(f) refinancing loan for Casselman House, 42 units of elderly/disabled housing, located in Newton, Massachusetts. The five-story elevator building was originally constructed in 1981 as part of HUD’s Section 202 program. Located in…

LIHC Investment Group and Rockport Mortgage Announce $74M in Financing for Little Italy Restoration Apartments in New York City, Extending the Property’s Affordability

NEW YORK CITY—LIHC Investment Group and Rockport Mortgage Corporation today announced the closing of an FHA Section 223(f) refinancing loan totaling $74 million for Little Italy Restoration Apartments located at 21 Spring Street in New York City. The property is owned by LIHC Investment Group, one of the nation’s largest real estate firms committed to the…

Rockport Mortgage Announces $271 Million in Multifamily Loans in Q1 2020

Rockport Mortgage is pleased to announce recent closings totaling $271 million in multifamily loan volume covering 1,600 multifamily and senior units. “We are very pleased to announce these first quarter closed loan transactions”, said Dan Lyons, President of Rockport Mortgage. “Each of these multifamily loan transactions presented a unique opportunity for the team at Rockport…

Rockport Mortgage Loans $38M for Brooklyn Multifamily Refi

NEW YORK CITY–  Rockport Mortgage Corporation has closed an FHA Section 223(f) refinancing loan of $38.6 million for Union Street Houses in Brooklyn. Scott Jaffee, a managing member of Metropolitan Realty Group, owns the property.

Rockport Mortgage Announces $38.6M in Financing for Brooklyn Affordable Housing Development

Rockport Mortgage Corporation recently announced the closing of an FHA Section 223(f) refinancing loan of $38.6 million for Union Street Houses in Brooklyn, NY. The property is owned by Scott Jaffee, Managing Member of Metropolitan Realty Group, LLC Situated in the Crown Heights neighborhood of Brooklyn, the property consists of 119 units contained within six…

Affordable Senior Community Near Providence Lands $43 M Refi

Affordable Housing & Services Collaborative has received a $42.7 million loan to refinance Melville Towers, a 327-unit senior living community in New Bedford, Mass. Rockport Mortgage Corp. secured the FHA Section 223(f) financing for the fully affordable property. The facility caters to adults aged 62 and over, as well as disabled residents under age 62.
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