Promesa Foundation borrows $11M from Popular Bank for property in Tremont

June 17, 2020 7:15 am

Promesa Foundation as borrower signed a loan agreement with lender Popular Bank valued at $11.2 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 51 residential units at 115 Henwood Place in Tremont. The deal closed on May 13, 2020 and was recorded on June 16, 2020.
The property contains a total of 51,000 square feet of built space.
The average loan per unit is $219,608.
The financing includes $3 million in new debt. The last time the property sold was June 30, 2015, for $12,500,000.

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Direct link to the city’s interactive property map, ZOLA. link

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