Year: 2020

Rockport Mortgage Announces $74.5M in Financing for Queens, NY Elderly Housing; Extends Affordability through 2040

GLOUCESTER, MA—Rockport Mortgage Corporation recently announced the closing of a $74.5 million FHA Section 223(f) refinancing loan for Israel Senior Citizen Housing I and II, a 512-unit HUD-subsidized property for the elderly located in the Far Rockaway neighborhood of Queens, NY. The property consists of two 17-story elevatored buildings and is owned by JASA Corporation…

Rockport Mortgage and LIHC Investment Group Announce $140M in Financing for West New York, NJ Affordable Housing; Extending Affordability through 2059

NEW YORK, Oct. 27, 2020— Rockport Mortgage Corporation and LIHC Investment Group today announced the closing of a $140 million FHA Section 223(f) refinancing loan for Parkview Towers, a 688-unit property located West New York, New Jersey. The development consists of two 24-story buildings and is owned by LIHC, a leading real estate investment group…

Rockport Mortgage Announces $81.8M in Financing for South Cove Plaza Community – Financing extends the affordability of senior and disabled housing for 23 years

GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of an FHA Section 223(f) refinancing loan totaling $81.8 million for the South Cove Plaza Community in Boston, a 231-unit housing development for the elderly and disabled constructed in 1982. Owned and managed by Weston Associates, the development consists of two parcels, each containing a single mixed-use, mid-rise building. One of…

LIHC, Rockport Mortgage Provide $65M for Manhattan Affordable Housing

NEW YORK, NY—LIHC Investment Group and Rockport Mortgage Corporation have closed a $65 million FHA Section 223(f) refinancing loan for Renwick Garden Apartments, a 224-unit subsidized Section 8 property in the Kips Bay neighborhood in Manhattan. The development comprises a single 15-story building located at 332 East 29th Street and is owned by LIHC, a real…

Rockport Mortgage and LIHC Investment Group Announce $65M in Financing for Manhattan Affordable Housing; Extending Affordability through 2049

The FHA Section 223(f) refinancing loan will maintain the affordability of Renwick Garden Apartments in Kips Bay NEW YORK, NY—Rockport Mortgage Corporation and LIHC Investment Group today announced the closing of a $65 million FHA Section 223(f) refinancing loan for Renwick Garden Apartments, a 224-unit subsidized Section 8 property supporting many elderly and disabled tenants…

Rockport Mortgage Corp. awards $50,000 in scholarships in partnership with GBREB and uAspire

On Thursday, June 4th, Rockport Mortgage’s managing partner and president Dan Lyons was set to be recognized by the Greater Boston Real Estate Board (GBREB) and uAspire, a leading national provider of financial aid advising, as the recipient of the 2020 GBREB Humanitarian Award. The event would also honor lieutenant governor of Massachusetts Karyn Polito…

Rockport Mortgage handles $36.4 million FHA Section 223(f) refinancing loan for Borden Place

Fall River, MA Rockport Mortgage Corp. completed the closing of a $36.4 million FHA Section 223(f) refinancing loan for Borden Place Apartments, 261 units of age-restricted housing, located downtown. Managed by Peabody Properties since 1981, the development consists of two buildings, Borden Place East (145 units) and Borden Place West (116 units), situated within a two-minute…

Affordability Extended for Seniors at Massachusetts Development

The affordability of homes for lower-income seniors has been extended for at least 20 years at the 43-unit Casselman House in Newton, Mass. MassHousing has provided $8.1 million in financing to nonprofit Newton Community Development Foundation (NCDF) to help preserve the longtime development. NCDF refinanced Casselman House through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint…