Nutter Represents Brookline Bank in Refinancing to South Middlesex Non-Profit Housing Corporation to Renovate Affordable Housing UnitsPrint PDF
Nutter recently represented Brookline Bank in a loan refinancing to South Middlesex Non-Profit Housing Corporation for 14 properties with affordable units and office space for related programs to provide housing options to communities in the Commonwealth. A total of 37 units are listed in the portfolio properties, which are located in several cities and towns: Framingham, Worcester, Charlton, Millbury, Medway, and Springfield.
Brookline Bank has been expanding opportunities for reinvestment initiatives, including community development lending, equity investments into low-income housing tax credits, and community service projects. Jane Adler, Brookline Bank’s Community Reinvestment Act (CRA) officer, oversees the institution’s CRA efforts, including programs for affordable housing, targeting low and middle-income communities, and corporate philanthropy.
“The work is so important to our communities, especially in the area of affordable housing of which there is a critical need in this region, in addition to Brookline Bank’s support for local charitable organizations and other programs,” said Adler.
The Nutter team was led by Paul Ayoub, Wendy Fiscus, and Robert Fox who are in the Affordable Housing and Community Development practice. Nutter has an integrated team of real estate, commercial financing, public policy, affordable housing, and tax professionals who work with clients to address the broad range of issues arising in connection with projects that are financed in whole or in part with tax credit equity. Our team has significant experience helping to close deals involving affordable housing loans and other financing programs for the acquisition, development, and disposition of single- and mixed-use projects in every region of the United States.
Nutter is a Boston-based law firm that provides legal counsel to industry-leading companies, early stage entrepreneurs, institutions, foundations, and families, across the country and around the world. The firm’s business and finance, intellectual property, litigation, real estate and land use, labor and employment, tax, and trusts and estates practices are national in scope. The firm was co-founded in 1879 by former U.S. Supreme Court Justice Louis D. Brandeis, before his appointment to the Court. For more information, please visit www.nutter.com and follow the firm on LinkedIn.