Posts by rock-admin

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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 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.

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.

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…

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…

Rockport Mortgage Announces $109 MM in Multifamily Financing Transactions

Rockport Mortgage Corporation is pleased to announce recent loan closings totaling $109 million in loan volume. These loan closings, all HUD Section 223(f) loan transactions, help to preserve 752 units of affordable housing in Massachusetts and New Hampshire. “The combination of near historic low interest rates and the competitive terms that FHA loan programs offer…

Rockport Mortgage Announces $26M Multifamily Affordable Financing in Connecticut

Rockport Mortgage of Gloucester, MA, announced today the closing of a $26.6 million, HUD 221(d)(4) substantial rehabilitation loan in Meriden, CT. Yale Acres is a 162 unit affordable housing community originally constructed in 1952 by the Meriden Housing Authority (“MHA”). The borrower, Yale Acres LLC of Meriden, CT, is an affiliate of Maynard Road Corporation,…

Rockport Mortgage Closes $1 Billion in FHA Multifamily Loans for HUD Fiscal Year 2018; Ranks Fourth Nationally.

For Immediate Release April 17, 2019 Media Contact: Tara Goodwin (508) 404-1745; [email protected] GLOUCESTER, MA…Rockport Mortgage Corporation today announced that it has once again maintained a top position in the HUD lender rankings for multifamily dollar volume and loan commitments, and closed over $1 billion in FHA loan volume during HUD’s fiscal year 2018.  This…