Quincy, Massachusetts
Munroe Place @ Quincy Center is an example of National’s strong preference to invest in transit-oriented, multi-family rental properties. The $30 million project is located immediately adjacent to an MBTA subway stop in suburban Boston, Massachusetts. National also recognized strong real estate fundamentals, such as historically low vacancy rates and a limited supply of new apartment development in the submarket, would lead to a successful project. We structured a straightforward equity investment with local developer Abbott Development as a key component to the project’s capitalization. After completion of construction, National’s portfolio officers worked closely with our partner to achieve the most advantageous permanent financing to ensure the project’s long-term profitability.
Project Facts:
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Transit-oriented apartment project
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111 units
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Developed by Abbott Development
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National Delivered:
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Equity capital
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Straightforward developer promote structure
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