Citizens Bank Provides $24.4 Million in Financing for Affordable Housing Project in Westwood

10/4/17

Citizens Bank announced today that its Community Development Group is providing $24.4 million in financing to Beacon Communities for the renovation of 180 affordable housing units inan age 62 and over community off Route 109 in Westwood.

The financing includes a $17.8 million equity investment through the Massachusetts Housing Investment Corporation and a $6.6 million construction loan.

“We value our partnership with Citizens Bank and appreciate the Community Development Group’s market knowledge and excellent execution,” said Jamie Pennington of Beacon Communities. “We look forward to continuing to work with the Citizens team as this project reaches its potential.”

“This project meets a critical need in the community and Citizens’ leadership is another sign of our commitment to Greater Boston,” said Jerry Sargent, president, Massachusetts, Citizens Bank.

Citizens is a trusted strategic and financial advisor, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.

For more information, please go to the Citizens Commercial Banking website.

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