Berkadia Secures $43M Refinancing for Chestnut Hill MF Property
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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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