Rockport Secures $82M Refinancing for Boston Seniors Housing Property
Rockport Mortgage Corp. has arranged a $81.8 million loan to refinance South Cove Plaza, a 231-unit seniors housing community in Boston.
Located in Boston’s Back Bay area, South Cove Plaza consists of a 142-unit building on Stuart Street and an 89-unit building on Tremont Street. The two buildings feature a mix of 193 one-bedroom units and 38 two-bedroom units. Additionally, the community features a combined 10,200 square feet of ground floor commercial space.
The borrower, Weston Associates, will use loan proceeds to renovate unit interiors, mechanical systems and amenity spaces.
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.