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Rockport Mortgage Arranges $33M Refinancing for Stoneham Apartment Community

Rockport Mortgage Corp. has arranged a $32.8 million HUD loan to refinance Mountain View Terrace Apartments, a 194-unit apartment community in the Stoneham, MASS.

Located at 27 Mountainview Drive, the property was built in 1981 and consists of one- and two-bedroom apartments as well as a number of three- and four-bedroom townhomes. The eight-acre community was renovated in 2011.

Rockport secured the refinancing on behalf of ownership, 7th AP Co. LP. A portion of the proceeds from the refinancing will be used for capital improvements.

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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.

  • ◦Financing