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Midland Capital Partners, an established developer and operator of subsidized housing in Maine, purchased from The Silver Street Group, LLC a 120-unit property for $8,025,000 — one of the largest subsidized multifamily deals in Maine in recent years. Midland is renovating every unit at the complex using a financing package through Maine Housing Authority, which will result in converting some market-rate units to subsidized units.
The transaction was arranged by Tony McDonald, CCIM, SIOR, and Nick Lucas of The Boulos Company.