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Boston & New England  + New England  + Finance  | 
Jones Street Investment Partners has secured $36 million to construct a multifamily community in Brunswick, ME.

Jones Street Investment Partners Secures $114M to Build Multifams in Brunswick, Kittery

Boston, MA-based Jones Street Investment Partners has secured $114 million in construction financing to develop a multifamily community in Brunswick, ME and another in Kittery, ME.

Colliers arranged the construction loan on the Brunswick project and the preferred equity investment on the Kittery project.

“Each of these projects aligns with our emphasis on long-term, cash flowing investment strategies that have the potential to deliver attractive risk-adjusted returns,” said Matt Frazier, founder and CEO of Jones Street.

Bangor Savings Bank provided Jones Street with a $36-million loan to develop a 181-unit community in Brunswick. Located on Admiral Fitch Avenue in a Qualified Opportunity Zone, the property sits within the Brunswick Landing Development, a former naval base that is being revitalized. The property sits three miles from downtown Brunswick and within 30 minutes of downtown Portland.

Jones Street secured a $70 million loan from Key Bank as well as a $7.9 million preferred equity investment from a major investment manager to develop Seacoast Residences, a 282-unit community at 76 Dennett Road in Kittery. The five-building property is situated along I-95 and immediately across the border from Portsmouth, NH.

Photo: Brunswick project

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Jones Street Investment Partners' Frazier

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.

  • ◦Development
  • ◦Financing
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