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MassHousing Provides $32.7M Refinancing Loan for Seniors Housing Community Near Boston

Mountain-View-Terrace-Stoneham-Massachusetts

Mountain View Terrace in Stoneham totals 194 units. The property was originally built in 1981.

STONEHAM, MASS. — MassHousing, an independent public agency that funds affordable housing properties in Massachusetts, has provided $32.7 million for the refinancing of Mountain View Terrace, a 194-unit seniors housing community in the northern Boston suburb of Stoneham. Built in 1981, the property consists of 128 one-bedroom apartments, 50 two-bedroom units, 10 three-bedroom residences and six four-bedroom apartments. The borrower was an affiliate of Atlantic Tambone Management LLC. The financing enables the property owner to extend affordability status for an additional 31 years.

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