Developments > The Record Company
A qualified equity investment (QEI) of up to $4.3 million by the Chase/MHIC 2019 Small Loan Fund in MHIC NE CDE II subsidiary 53 LLC to make a qualified low-income community investment (QLICI) of up to $4.171 million to finance the build out and FF&E of the Record Company (TRC). The balance of the QEI will be used to pay a 3% MHIC sub-allocation fee. TRC will also pay a 0.5% exit fee to MHIC.
The Record Company
Project at a Glance:
Location:
Boston
Development Type:
Commercial
MHIC Financing:
$1,512,500 in debt financing, $4,257,000 in NMTC financing
Sponsor:
The Record Company
Date Completed:
1/14/2021
A qualified equity investment (QEI) of up to $4.3 million by the Chase/MHIC 2019 Small Loan Fund in MHIC NE CDE II subsidiary 53 LLC to make a qualified low-income community investment (QLICI) of up to $4.171 million to finance the build out and FF&E of the Record Company (TRC). The balance of the QEI will be used to pay a 3% MHIC sub-allocation fee. TRC will also pay a 0.5% exit fee to MHIC.