Month: June 2020

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…

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…

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…