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Boston & New England  + Metro Boston  + Senior Housing  |  October 5, 2020
David Cohen
By: David Cohen

Nixon Peabody Secures $29M Refinancing for Affordable Housing Development in Quincy

Global law firm Nixon Peabody has represented client Wollaston Lutheran Housing Corp. in a $28.9 million refinancing for Town Brook House, a 151-unit affordable seniors housing development in Quincy. MassHousing provided the 40-year loan.

The building was constructed in 1980 and consists of 136 one-bedroom units and 15 two-bedroom units. Community amenities include a lounge, common activities area and a communal kitchen. Wollaston Lutheran rents the property to senior citizens that qualify for affordable housing status. A portion of the proceeds from the refinancing will be used for capital improvements.

“Wollaston Lutheran Housing provides an essential service to the community,” said Jeffrey Sacks, a partner in Nixon Peabody’s Affordable Housing and Real Estate group who led the transaction. “We’re proud to help them advance their mission and make a positive impact on their current and future residents.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

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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