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.
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