Sponsor: AvalonBay Communities, Inc.
Loan Approved: October 25, 2011
MHP provided a $50 million long-term loan through its Fannie Mae Participation Loan Program for the financing of 407 units.
TYPE: New construction.
WHERE: 5 Chrysler Road, Natick.
WHAT: The new construction of 407 residential rental units in two building.
AFFORDABILITY: 102 units will be affordable at 80 percent AMI.
MHP FINANCING: A $50 million long-term loan through MHP's Fannie Mae Participation Loan Program, which blends MHP's private capital and underwriting experience with Fannie Mae funds to offer cost-effective financing.
RENTAL INFORMATION: Avalon Bay Communities