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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.

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Tags: Financing, Senior Housing

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Rockport Secures $82M Refinancing for Boston Seniors Housing Property

David Cohen

Source Google News