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Boston & New England  + Metro Boston  + Finance  | 
Eastern Union has arranged a total of $83.8 million in financing in support of The Boulders apartments in Amherst, MA and Cliffside Apartments in Sunderland, MA.

Eastern Union Secures $84M for 1970s-Vintage Multifamilies in Amherst, Sunderland

Eastern Union has arranged a total of $83.8 million in financing in support of The Boulders, a 256-unit, multifamily property in Amherst, MA, and Cliffside Apartments, a 280-unit property situated in neighboring Sunderland, MA.

Michael Muller of Eastern Union secured the financing through Newmark. The combined loan-to-value ratio was 75 percent.

Boston, MA-based Northland sold both 1970s-vintage properties, with a combined 536 units, to an undisclosed buyer.

The Boulders was granted a 10-year mortgage of $44.8 million. The interest rate is floating at a spread of 2.83% plus the one-month SOFR. The financing allows for interest-only payments for the first four years.

Cliffside Apartments was granted a 10-year mortgage of $39 million The interest rate is floating at a spread of 2.83% plus the one-month SOFR. The financing allows for interest-only payments for the first four years.

Photo: The Boulders

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Eastern Union

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Financing
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