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BOSTON — Rockport Mortgage Corp. has arranged an $81.8 million loan for the refinancing of South Cove Plaza, a 231-unit seniors housing community in Boston.
South Cove Plaza consists of a 142-unit building on Stuart Street and an 89-unit building on Tremont Street in the city’s Back Bay area. The buildings feature 193 one-bedroom units and 38 two-bedroom units, as well as a combined 10,200 square feet of ground-floor commercial space.
The borrower, Weston Associates, will use some of the proceeds to renovate unit interiors, mechanical systems and amenity spaces.