Year: 2020

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Rockport Mortgage Announces $9M for Multifamily Affordable Housing in Lowell

GLOUCESTER, MA… Rockport Mortgage Corporation recently announced the closing of an FHA Section 223(f) refinancing loan totaling $9 million for the Lowell Belvidere Apartments in Lowell, MA. The property is managed by Peabody Properties. Situated on 1.28 acres in the Belvidere neighborhood of Lowell, the property consists of 70 family apartments (1-4 bedrooms) contained in…

Rockport Mortgage Announces $42.7M Financing for Melville Towers Apartments in New Bedford, MA

Rockport Mortgage Corporation recently announced the closing of an FHA Section 223(f) refinancing loan totaling $42.7 million for Melville Towers, an elderly apartment complex located at 850 Pleasant Street, New Bedford, MA. The property is owned by the non-profit Affordable Housing & Services Collaborative, Inc. and managed by Peabody Properties. Melville Towers Apartments, located in…

Rockport Mortgage Announces $30M in Financing for Rolling Green Apartments in Amherst, MA

Rockport Mortgage Corporation recently announced the closing of an FHA Section 223(f) refinancing loan for Rolling Green Apartments in Amherst, MA totaling $30 million. The property has been owned and managed by Beacon Communities LLC. since 2014. The property, constructed in 1970, is a mixed-income rental development located on 26.2 acres and is comprised of…

Rockport Mortgage and LIHC Investment Group Announce $51M in Financing for Two Affordable Housing Developments in New Jersey Significantly Extending the Affordability of Both Properties

Rockport Mortgage Corporation recently announced the closing of two FHA Section 223(f) refinancing loans totaling $51 million. Verona Senior Citizens Apartments in Verona ($24M), and Mansion Apartments in Pine Hill ($27M). Both properties are owned by LIHC Investment Group, one of the nation’s largest real estate firms committed to the preservation of affordable housing. Situated…

LIHC Investment Group Secures $51M in FHA Financing for Two Affordable Communities

VERONA, NJ—LIHC Investment Group of Portland, ME, has secured $51 million in two FHA Section 223(f) refinancing loans for two of its New Jersey multifamily properties. Rockport Mortgage Corp. of Gloucester, MA closed a $24-million FHA loan for the. Verona Senior Citizens Apartments in Verona and $27 million in FHA financing for Mansion Apartments in…
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