BROOKLINE, MA-Chestnut Hill Realty Corp. will soon begin work on a project to renovate and upgrade a four-story multifamily property here. The owner of the 63-unit apartment complex at 1223 Beacon St. has received $8.15 million in financing to fund renovations and upgrades.
Hampton Court Apartments is a 98% occupied multi-tenant property that also contains a restaurant and medical offices. GMAC Commercial Mortgage Corp. arranged the loan through Freddie Mac. GMACCMC's vice president Robert Lipson, of the Red Bank, NJ, loan origination office, tells GlobeSt.com the building's owner is a repeat borrower who has taken six about 14 loans in the last three years through Freddie Mac. The borrower owns and manages about 4,000 units in the Greater Boston area.
"We recently partnered with Freddie Mac to close a large transaction in this area, which allowed us to secure a quick rate lock because Freddie was already familiar with the building and the market," says Lipson. The property is located about one block from Coolidge Corner in the heart of Brookline.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
