News: Financial Digest

NorthMarq Capital arranges $5.8m mortgage for Bluffs Apartments

Debbie Orloff, senior vice president of NorthMarq's Boston regional office, arranged construction financing of $5.8 million for The Bluffs Apartments. The loan was arranged for the borrower, Randall Rd. Associates, LLC, by NorthMarq through its relationship with Commerce Bank & Trust Co. When completed, The Bluffs Apartments will consist of 11 buildings, with a total of 65 two bedroom townhouse-style apartments and an average of 1,120 s/f. Within the past five years, the city has undergone a major renovation, beginning with the rehabilitation of several large mill style buildings into mixed retail, office and industrial use projects. The largest of these, the Bates Mill Complex, includes approximately 1.2 million s/f of space, with 200,000 s/f currently undergoing renovations. The redevelopment efforts in downtown have coincided with the expansion of the residential market in town outside of the downtown area.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

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<br> the First Annual Project of the Year Award! Vote today!

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

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 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