Berkadia Secures $64M in Financing for MA Five-Multifamily Portfolio
Berkadia has arranged $64.2 million in financing for Brookline Cambridge Portfolio, a five-property multifamily portfolio located in MA.
Managing director Robert Lipson of Berkadia Shrewsbury secured the refinancing through Freddie Mac on behalf of the borrower, MA-based Chestnut Hill Realty.
“Both markets overcame strong headwinds from COVID-19 restrictions to return to 100 percent occupancy this fall and refinance these maturing loans as the properties refilled with tenants,” said Lipson.
Two properties (Auburn Harris Courtyard and St. Paul Gardens) are located in the Coolidge Corner area of Brookline and afford residents convenient access to Longwood Medical Area, downtown Boston and the shops and restaurants along Beacon Street.
The three properties (Wendall Terrace, Brattle Arms and John Harvard Apartments) are located in Cambridge with convenient access to the city’s renowned universities along with Harvard Square’s shops and restaurants.
- ◦Sale/Acquisition