April 4, 2024 — Boston Capital Finance (BCF) is pleased to announce the closing of a construction tax-exempt bond.  Morningside at Gerstner Place is a to-be-built 117-unit affordable housing apartment building located in Lake Charles, Louisiana.

“The Morningside at Gerstner Place bond closing is another example of our commitment to affordable lending in Louisiana.  This property, situated on 8.5 acres will bring much needed affordable housing options to the area.” said Bill Fazzano, Director of Underwriting and Asset Management.  “We are thrilled to be working with a development team of the caliber of CST Multifamily. CST Multifamily had numerous construction financing options but selected BCF based on our knowledge of the space, seasoned underwriting team and certainty of delivery” said Sean Curry, Director of Investments and Originations.

About the Developer

CST Multifamily Real Estate Services offers a full array of specialized real estate services to individuals, companies, and investors seeking to create equity in multifamily properties.

The CST Multifamily Real Estate Services umbrella of firms includes CST Multifamily Group, CST Land Developers, and CST Development Funds. Each of the subsidiaries is interlinked and led by multifamily experts in financing, design-build, and property management.

CST Multifamily Real Estate Services and its leadership team have over 100 years of combined operational experience in comprehensive multifamily property development. Their expertise includes conventional, HUD 221 (d) 4, affordable (LIHTC, Bond, HOME and CDBG), and senior housing. The team’s knowledge, experience, and passion help to fulfill its mission of enhancing assets, together.

Boston Capital Finance

BCF was founded in 1994 and provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits.  BCF owned and managed by Jack Manning, Kevin Costello, Bill Fazzano and Sean Curry has closed over $3.8 billion of affordable bonds and loans.

Have an affordable tax-exempt bond or taxable permanent loan that needs to be financed? Please call:

Sean Curry, Originations and Investments, 781-526-4319 scurry@bostoncapital.com
Walter Williams, Originations, 617-694-5182 wwilliams@bostoncapital.com
Don Phelan, Originations, 860-614-8650 dphelan@bostoncapital.com
Bill Fazzano, Underwriting and Asset Management 617-331-4098, bfazzano@bostoncapital.com