Citizens Commercial Real Estate Finance team is providing a $53 million loan to National Development for the construction of 7INK, a 180-unit co-living residential project at the Ink Block development in Boston’s South End.
Citizens is the sole lender.
Located at Ink Block, a seven-building award-winning mixed use development, the project is a 14-story signature building featuring fully furnished studios, one-bedroom apartments and shared suites.
7INK will be owned and managed by National Development with service provided by Ollie, a New York-based national leader in co-living.
“Citizens’ Commercial Real Estate bankers are trusted partners who were ready to listen to us and help make this project a reality,” said Tom Alperin of National Development. “The Citizens team has deep knowledge of the commercial real estate landscape and their close attention to detail made for a seamless and timely execution.”
