News: Rhode Island
Posted: August 7, 2014
Deluski of BankRI provides $2.7 million commercial mortgage
BankRI provided a $2.7 million commercial mortgage to Harrisburg Associates LLC to refinance the properties located at 220-232 Westminster St.
The property consists of two connected mixed-use buildings. 220 Westminster St. aka the O'Gorman Building is a 6-story building containing 16,332 s/f with 5 upper floor apartments and 2 ground floor commercial units. The second building at 232 Westminster St. aka the Burgess Building is a 4-story 15,551 s/f structure with 8 upper floor apartments and 2 ground floor commercial units.
The buildings were constructed in the late 1800s and early 1900s and were rehabilitated for residential over commercial use in 2002-2003.
Andrew Deluski, VP senior business lender in the commercial real estate group at BankRI facilitated the transaction.
MORE FROM Rhode Island
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
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