News: Financial Digest
Posted: January 13, 2023
Eagle Rock Properties secures $323 million in financing for a 1,314-unit portfolio in MA & NH
Framingham, MA New York-based Eagle Rock Properties has secured $323 million in financing for a 1,314-unit portfolio of five multifamily properties located in MA and NH.
The properties are situated in Framingham, Swampscott and Brighton, Mass. and in Nashua, NH. The portfolio’s properties include community clubhouses, barbeques, fitness centers, swimming pools, garage parking and pet parks.
Abe Hirsch, Zev Karpel, Harshit Shihara, and Sean Anderson of Meridian Capital Group negotiated the financing. Capital One and New York Community Bank provided the loans.
“In midst of the dramatic rise of the 10-year U.S. treasury, we are thrilled to be able to execute this monumental acquisition for Eagle Rock Properties with a combination of agency and balance sheet debt,” said Hirsch.
Eagle Rock Properties — a real estate firm offering investment management, property management and construction management services — currently owns and manages more than 8,500 units across 50 rental properties that are valued at over $2.5 billion.
Tags:
Financial Digest
MORE FROM Financial Digest
Financial Digest
Example Story Title FD 5
Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.