NorthMarq Arranges $3.7M Construction Loan for Metro Boston Apartment Project


Andrew Street Apartments will be a 32-unit multifamily building in Lynn, Massachusetts, a city experiencing a strong wave of residential development due in part to having much of the city designated as opportunity zones.

LYNN, MASS. — NorthMarq Capital has arranged a $3.7 million construction loan for Andrew Street Apartments, a 32-unit project that will be located in the northern Boston suburb of Lynn. The financing was structured with a 25-year term, a 25-year amortization schedule and interest-only payments throughout the construction period, the duration of which was not released. A local bank provided the loan to the undisclosed borrower.

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