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Boston & New England  + Finance  |  March 13, 2020
Paul Bubny
By: Paul Bubny

Berkadia Secures $211M Refi on Chestnut Hill Townhomes

Berkadia secured financing for Hancock Village, a townhome community in Chestnut Hill, MA. Managing director Robert Lipson secured the $211.25 million in permanent refinancing for the property on behalf of Chestnut Hill Realty.

The 15-year Freddie Mac loan features a low fixed interest rate, a 65% loan-to-value ratio and a 30-year amortization schedule following a substantial interest-only period.

“We are very proud to continue the longstanding relationship between the borrower, Berkadia and Freddie Mac,” said Lipson. “Chestnut Hill Realty had recently renovated a significant portion of the property and Berkadia/Freddie Mac were happy to provide the borrower with a substantial return of the capital invested and allowing for a long-term fixed rate.”

Located on Independence Drive in Chestnut Hill, Hancock Village features one and two-bedroom townhomes. Community amenities include a fitness center and a lounge. Residents are offered regular shuttle service to convenient transportation hubs and the Longwood Medical area.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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