Brookline Bank and MassDevelopment collaborate on financing for Malden Catholic expansion

This week Brookline Bank announced that Malden Catholic (MC) selected Brookline Bank and MassDevelopment to structure $35 million in tax-exempt bonds to fund a major expansion at 50 Crystal St. in Malden. The 70,000-square-foot building will include cutting-edge classroom and lab spaces, a spacious dining hall, modern administrative facilities and a state-of-the-art athletic facility. MC broke ground for the new campus this past spring.

“Brookline Bank is proud to partner with Malden Catholic, one of the fastest growing Catholic high schools in New England, and a model institution for 92 years,” said Brookline Bank’s Commercial Banking Group SVP and Institutional Banking Team Leader, Jerry Algere. “MC’s expansion – along with the advanced programs they offer – will add a whole new dimension to what education can look like going forward.”

Founded in 1932, MC is recognized for its rigorous academics, SFX Scholars Program and award-winning STEM program. The school’s list of alumni boasts a Nobel Laureate, a Senator, two ambassadors and numerous community and business leaders.

“We are excited about our partnership with Brookline Bank,” said MC’s President, John Thornburg. “Jerry and his team believe in what we are doing at Malden Catholic and made it possible for our vision to become a reality.”

MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. “Congratulations to Malden Catholic for investing in a new, modern facility where students can learn, play, and grow together,” said MassDevelopment’s SVP of Investment Banking, Benny Wong. “MassDevelopment was pleased to partner with Brookline Bank to deliver tax-exempt financing for this expansion.”

For more information about Brookline Bank, go to brooklinebank.com.