October 14, 2020
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.
For comments, questions or concerns, please contact David Cohen
Tags: Financing, Senior Housing
Rockport Secures $82M Refinancing for Boston Seniors Housing Property