Berkadia has secured a $42.9 million loan to refinance Hancock Estates, a garden-style multifamily property in Chestnut Hill, MASS.
Located at 200 Estate Drive in Chestnut Hill, Hancock Estates features one- and two-bedroom open floor plans with condominium-style finishes including electronically controlled lighting and window treatments, 10-foot ceilings and full-size washers and dryers. Community amenities include a resident lounge, fitness center, outdoor picnic area with grilling stations, dog walk, fire pit and a community garden.
Robert Lipson of Berkadia’s Shrewsbury, N.J. office secured the refinancing on behalf of the borrower, Massachusetts-based Chestnut Hill Realty. The 15-year Freddie Mac loan features a low interest rate and a lengthy interest-only period followed by a 30-year amortization schedule.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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