Colliers arranged $44.5 million in construction financing for 259 Lenox St., a 145-unit multifamily development in Norwood, MA. A Colliers Capital Markets team led by Patrick Boyle, Matt Lombardi Jr., and Rose Liu arranged the construction loan with Beacon Bank on behalf of developer Tremont Asset Management LLC.
The project will deliver 145 apartment homes in a five-story residential community, with 20% of units designated as affordable. It will feature a mix of junior one-bedroom, one-bedroom and two-bedroom residences, along with 169 surface parking spaces.
“We identified this site for its exceptional transit connectivity and spent several years planning a project that will elevate the multifamily housing offering in Norwood,” said Sam Slater, managing partner at Tremont Asset Management LLC. “We are pleased to be partnering again with Beacon Bank as we move forward with the development of this exciting multifamily community.”
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