Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Jones Street Investment Partners Secures $65M to Develop Manchester Community
Boston, MA-based Jones Street Investment Partners has secured a $65.1-million loan from Berkshire Bank to develop a 250-unit multifamily community in downtown Manchester, NH.
Colliers arranged the loan.
According to the company, the enables Jones Street to expand its portfolio in a key secondary market across the Northeast with severely supply constrained and have demonstrated consistently strong rental growth; Manchester boasts low unemployment rates, high affordability and strong economic growth.
The community will be located at 75 Canal Street within a Qualified Opportunity Zone and include approximately 2,000 square feet of ground-floor retail space. Major employers in the area include Oracle, TD Bank, New York Life and Southern New Hampshire University.
The property will consist of studio, one-, two- and three-bedroom apartments with clubhouse with a full-service kitchen and game room, fitness center, business center and two outdoor courtyards.
- ◦Development
- ◦Financing
