For the past 25 years Rockport has aided clients in developing capital solutions that enable them to fulfill their business and philanthropic goals. We take the time to fully understand the borrower, real estate and opportunity, developing innovative financing structures that create value by maximizing the potential of every property, every situation and every community.
Boston, MA | $27,402,800
HUD section 223(f) program
RMC provided $27,402,800 in financing under the HUD section 223(f) program to refinance Norway Apartments. The 137-unit scattered site community is located in the Fenway district of Boston and is approximately 90% Project Based Section 8.
Knoxville, TN | $17,000,000
HUD Section 221(d)(4) program
RMC provided $17,000,000 in financing under the HUD Section 221(d)(4) program for the refinance and substantial rehabilitation of Pinnacle Park Apartments (formerly Arbor Place Apartments). The multifamily community consists of 200 units of low- and moderate-income housing. The complex debt structure included the use of 4% Low Income Housing Tax Credits (LIHTCs), short-term tax-exempt bonds, and multiple tranche financing.
New York, NY | $64,751,000
HUD 221(d)(4) program
RMC provided $64,751,000 in financing under the HUD 221(d)(4) program for the rehabilitation of Associated Blind Apartments, a Section 202 project with 100% Section 8. The multifamily community is located in Manhattan, NY and consists of 205 units.