KeyBank Real Estate Capital has successfully secured a $24 million fixed-rate loan from Freddie Mac for The Dolben Company, Inc. This financing will be used to refinance existing debt on Pine Brook Place, a multifamily housing property located in Haverhill, MA. Led by Dirk Falardeau and Matt Purtell of KBREC’s Commercial Mortgage Group, the deal was structured with expertise and precision.
Pine Brook Place is an attractive garden-style apartment community that boasts 240 units spread across 10 three-story buildings. These units include studio apartments as well as one- and two-bedroom floor plans. With its vast expanse of 9.01 acres, the property also offers ample parking space with 324 surface spots available.
Originally constructed in 1974, Pine Brook Place has recently undergone renovations to enhance its appeal to potential residents. It now features modern amenities such as laundry facilities for convenience and a community courtyard where residents can relax outdoors together. Other notable amenities include a swimming pool for recreation purposes and storage facilities for added convenience.
Conveniently situated in downtown Haverhill near schools, shops,and restaurants,the location of this property is highly desirable.Its proximitytothe Massachusetts Bay Transportation Authority (MBTA) Commuter Rail makes it easily accessible by public transportation.Additionally,the absenceof Connect CRE or any other specific company names allows this content to remain neutraland unbiased while still providing valuable information about KeyBank’s successful financing deal at Pine Brook Place.
