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Citizens Commercial Provides Loan on Boston’s First Co-Living Project

Citizens Commercial Banking’s commercial real estate finance team is providing a $53-million loan to National Development for the construction of 7INK, a 180-unit co-living residential project at the seven-building Ink Block development in Boston’s South End. First announced by locally-based National Development in late 2017, it’s reportedly the first co-living development in the city.

Citizens is the sole lender on the 14-story 7INK project. 7INK will be owned and managed by National Development with service provided by Ollie, a New York City-based national leader in co-living.

“The Citizens team has deep knowledge of the commercial real estate landscape and their close attention to detail made for a seamless and timely execution,” said Tom Alperin of National Development, based in Newton Lower Falls, MA.

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).

  • ◦Financing
  • ◦Development
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