MassHousing Finances $50.6 Million to Preserve Affordable Housing in Boston, Beverly, Maynard and Medfield

MassHousing announced today that it has closed $50.6 million in financing for the acquisition and preservation of four affordable housing developments in Boston, Beverly, Maynard and Medfield. Beacon Communities LLC of Boston used the MassHousing financing to help purchase the four affordable apartment communities from their former owner, Equity Residential. The 351 apartments involved in the transaction will remain affordable for at least 40 years under the terms of the financing and the four developments will receive varying amounts of capital improvements.

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