REBusinessOnline

Rockport Arranges $81.8M Loan for Refinancing of Boston Seniors Housing Community

South-Cove-Plaza-Boston

South Cove Plaza in Boston consists of 231 units and 10,200 square feet of commercial space.

BOSTON — Rockport Mortgage Corp. has arranged an $81.8 million loan for the refinancing of South Cove Plaza, a 231-unit seniors housing community in Boston. South Cove Plaza consists of a 142-unit building on Stuart Street and an 89-unit building on Tremont Street in the city’s Back Bay area. The buildings feature 193 one-bedroom units and 38 two-bedroom units, as well as a combined 10,200 square feet of ground-floor commercial space. The borrower, Weston Associates, will use some of the proceeds to renovate unit interiors, mechanical systems and amenity spaces.

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