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New Bedford: Regency FNMA refi

Trinity Financial

Mhp N Bedford19 A

Loan Approved: April 2, 2018

Trinity Financial refinanced 96 market-rate and workforce rental apartments at Regency Tower with an $8.5 million Fannie Mae loan from MHP.

TYPE: Refinancing

WHERE: Regency Tower, downtown New Bedford.

WHAT: 96 market-rate and workforce apartments within a larger 15-story, 129-unit apartment building which also includes 33 affordable apartments.

AFFORDABILITY: 10 of the 96 units are considered "workforce" and affordable to households at or below 65 percent of area median income.

FINANCING: The loan refinanced an MHP 5+5 Flex loan that was scheduled to reset with a Fannie Mae 15-year loan.

RENTAL INFORMATION: The Regency, 508-999-5050


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