News: Financial Digest
Posted: May 12, 2017
Griffin Industrial Realty, Inc. closes $12 million mortgage loan with People’s United Bank, N.A.
Boston, MA According to Griffin Industrial Realty, Inc., one of its subsidiaries closed on a $12 million non-recourse mortgage loan with People’s United Bank, N.A. The loan is collateralized by two fully leased industrial/warehouse buildings aggregating 275,000 s/f in New England Tradeport, Griffin’s industrial park in Windsor and East Granby, CT. The loan has a variable interest rate, but Griffin entered into an interest rate swap agreement with People’s Bank that effectively fixes the interest rate at 4.45% over the loan’s ten-year term.
Principal payments on the mortgage loan are based on a 25 year amortization schedule. Griffin intends to use the mortgage proceeds for general business purposes, including continued investment in its real estate assets.
Tags:
Financial Digest
MORE FROM Financial Digest
Preservation of Affordable Housing secures $23.5 million in financing from Rockland Trust and Citizens Bank
Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
Columns and Thought Leadership
Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay
Preserving wealth across multiple generations requires strategic planning, foresight, and the right investment vehicles. Delaware Statutory Trusts (DSTs) offer a powerful solution for families looking to build and protect their financial legacy and to efficiently plan for their estate.
Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)
The Connecticut hospitality market has demonstrated uneven recovery patterns between 2019 and 2025, with boutique and historic properties achieving $125 RevPAR in 2025, up 8.7% from the 2019 level. Coastal resort properties achieved a $105 RevPAR in 2025, representing 10.5% growth since 2019. Casino corridor properties maintained modest growth with RevPAR improving 4.5% to $92 in 2025.
