RISE and btcRE have secured $23 million in funding to construct a new apartment building at 52 School Street in Everett, MA. Located in a residential neighborhood on the periphery of Everett’s Commercial Triangle Economic Development District, the financing package includes a $15 million construction loan and $8 million joint venture equity to support the construction of 46 modern apartment units.
Herby Duverne, founder and CEO of RISE commented: “Everett is an amazing city undergoing significant transformation while preserving its character – what makes this coastal community unique.” A team from Colliers International led by Tom Welch, Adam Coppola, and Patrick Boyle arranged the financing for this project.
