News: Financial Digest

HFF represents Baywater Props. in $10.5m financing of 1020 Post Rd.

A joint venture between Baywater Properties and Frank Mercede & Sons, Inc. obtained a $10.5 million permanent loan for its new 27,000 s/f commercial building.  The 10-year financing was provided by TD Banknorth.  The Westport office of Holliday Fenoglio Fowler, L.P. (HFF) represented the borrower in the financing 1020 Post Rd. is a newly constructed, fully leased, mixed-use property.  The first floor is retail and includes Lucy, Ruby's, Ole Mole, Williams & Warren and Gofer Ice Cream. The second floor is leased as offices to Merrill Lynch and Cheswick Wright Wealth Management and there are six luxury apartment units on the third floor. "David Genovese of Baywater developed a unique project," said managing director Al Epstein with HFF.  "He was able to combine separate land parcels in the heart of Darien's downtown that were underutilized for decades and convince the town leadership to permit something brand new.  It took Genovese over five years to get this done and it has become a real catalyst for a revitalized downtown, including the expansion of its municipal parking."
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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

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.
Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

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.