Needham Bank and Groma have partnered on a $41.5 million.
The bulk of the partnership is focused on enabling Groma to scale up its acquisition/rehabilitation of small-unit count multi-family homes in Boston.
Groma is focused on retaining and improving this key inventory of convenient, affordable housing in Boston.
“We are thrilled to be partnering with Needham Bank in this important financing facility to help scale up Groma’s efforts in the Greater Boston. area,” said Seth Priebatsch.
Needham Bank is providing financing to Groma through the bank’s Structured Finance team.
Known as the “Builder’s Bank,” Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892.