Samia Buys 84-Unit Multi-family Complex for $2.7 Million

GARDNER, MA-The purchase was funded via a $2.2 million acquisition loan secured by Nickerson Financial Corp.

By Joe Clements | Updated on October 02, 2000

GARDNER, MA-Nickerson Financial Corp. has arranged a $2.2 million acquisition loan for the Samia Cos. to purchase the Garden Gate Condominiums. The five buildings, which total 84 units, were bought for $2.7 million, according to Registry of Deeds records.

The non-recourse, fixed-rate loan is amortized over 30 years. Jonathan Close of the Nordblom Co. brokered the sale of the multi-family properties on behalf of both sides. Mashpee-based Nickerson Financial Corp. provides financing for a range of commercial and multi-family properties.

The Samia Cos. is one of the fastest-growing owners and operators of multi-family real estate in Greater Boston

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

Dig Deeper

Recommended Stories

CBDs Well-Positioned to Reinvent Themselves Through Public-Private Partnerships

Richard Berger | May 30, 2023

JLL report said it’s crucial to do so for these cities to remain relevant.

Two Woodlands Office Buildings Trade to Private Asset Management Firm

David Hoffman | May 30, 2023

Properties total 153,294 square feet situated on 9.85 acres

Overall CMBS Defaults Slow But Maturity Defaults Rise

Erik Sherman | May 30, 2023

What seems like a good news/bad news scenario is closer to a bad news/worse news one.

Resource Center

Malls still play a key role in the wider retail landscape. This white paper analyzes changes in shopping center visitor behavior to see how malls are maintaining relevance in 2023.

White Paper

Sponsored by Placer Labs Inc.

Navigating a Changing Mall: Analyzing Consumer Behavior

Malls still play a key role in the wider retail landscape. This white paper analyzes changes in shopping center visitor behavior to see how malls are maintaining relevance in 2023.

Browse More Resources ›

This info brief outlines the benefits of automating your third-party asset management reporting and validating data in real time. Learn how you can consistently close your reporting cycle on time!

Information Brief

Sponsored by Cherre, Inc.

Automate Third-Party Asset and Portfolio Reporting

This info brief outlines the benefits of automating your third-party asset management reporting and validating data in real time. Learn how you can consistently close your reporting cycle on time!

Browse More Resources ›

Cloud-based access control delivers important benefits like increased convenience, security, and cost savings for your enterprise or property. This guide explores the top four benefits of cloud-based security and how it creates a more welcoming and safer experience.

Guide

Sponsored by Brivo

Top 4 Reasons to Upgrade Your Physical Security With the Cloud

Cloud-based access control delivers important benefits like increased convenience, security, and cost savings for your enterprise or property. This guide explores the top four benefits of cloud-based security and how it creates a more welcoming and safer experience.

Browse More Resources ›

GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.