In the News

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 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…

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.

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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