News: Rhode Island
Posted: October 10, 2007
CBRE|Melody arranges $1.7m financing for 379-unit self storage facility
CBRE | Melody arranged the $1.7 million acquisition financing for Cumberland Self Storage, a 379-unit facility located at 95 Industrial Rd.
Michael Prakken and Deborah Dalton of CBRE | Melody's Boston office secured the financing for Cumberland Self Storage, LLC, a venture of The Stubblebine Company and Summit Real Estate Strategies, LLC. The financing was arranged through TD Banknorth. The loan is a five-year, floating and fixed rate with three years interest only followed by a 25-year amortization.
"TD Banknorth provided financing that was very competitive and provided the sponsors with a structure that met their requirements," said Dalton.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary