A 19-building apartment portfolio in Boston and Lynn has obtained $62 million in recapitalization financing.
CBRE capital markets arranged the financing on behalf of Boston-based Helge Capital, which owns the portfolio consisting of market-rate and affordable units.
“Through creating a competitive process with various lenders, we were able to secure a creative structure that matched our client’s business plan,” CBRE Executive Vice President John Kelly said in a statement. “Our client was able to recapitalize their initial investment and position the assets for long-term operational and financial success.”
Helge Capital specializes in workforce housing in Greater Boston, and manages the portfolio through its affiliate, Advanced Property Management.