Eastern Mortgage Capital, Burlington, MA, closes $107.96 million in first mortgage loans in Q4 2025 secured by multifamily assets in three states via two- different mortgage banking firms.

Burlington, Mass., January 12, 2026 In Brentwood, CA Eastern Mortgage Capital President Peter Panagako originated a $48.84 million refinance for the 166- Unit apartment complex, Silvergate Apartments.

Mr. Panagako also originated $21.29 million secured by the 129- unit Malmo Apartments, located in Shoreline, WA, $13.72 million for the 50- unit Gabilan Creek Apartments located in Salinas, CA, and $24.11 million for the 194- unit Solace at Mahomet located in Mahomet, IL.

All four transactions took advantage of decreasing rates via the HUD Insured programs, and three utilized interest rate buy-downs to help maximize proceeds.

According to Panagako “All four transactions closed timely and efficiently, despite a historically long federal shut-down, reflecting continued trends of HUD meeting or beating timing deadlines.  Three of the four transactions were effectively construction take out loans, with rate lock occurring within 60 days of stabilization in each case.  All four loans took advantage of the longer amortization, lower rate and Debt Service Coverage allowed by the HUD 223(f) program to provide the highest proceeds available in the market.”

The Silvergate and Gabilan Creek were placed with Eastern Mortgage Capital via Gantry and Malmo Apartments was placed by DSC Capital, reflecting continued relationships for the Massachusetts based HUD Insured Lender.

Eastern Mortgage Capital (www.easternmortgagecapital.com) is a direct nationwide MAP lender focused on providing FHA-insured financing nationwide for apartments, assisted living properties, and skilled nursing facilities. EMC is based in Burlington, MA and obtained FHA mortgage insurance under the 223(f) program to deliver the 35-year fixed rate non-recourse financing.