Sponsor: Madden Property Management
Loan Approved: May 20, 1998
MHP committed $974,659 in permanent rental financing to help Madden Property Management acquire and rehabilitate 90 rental/condominium/SRO units in Rockland, Whitman, Taunton, and Bridgewater.
TYPE: Rehabilitation.
WHERE: 92 Church Street, 209-215 Union Street, Rockland; Main Street, Bridgewater; Broadway, Taunton; South Avenue, Whitman.
WHAT: In Bridgewater, the acquisition and rehabilitation of 32 SRO units. In Rockland, the acquisition and rehabilitation of an 11-unit SRO property and a 7-unit rental property. In Taunton, the acquisition and rehabilitation of a 15-unit SRO property. In Whitman, the acquisition and rehabilitation of a 25-unit rental property.
MHP FINANCING: A permanent first mortgage of $974,659.