News: Financial Digest
Posted: December 13, 2007
Paradigm Capital funds $12m mortgage for 87-unit loft development
New York-based Paradigm Capital Funding, a bridge financing institution, has recently funded a $12 million first mortgage secured by an existing six-story building in the heart of downtown.
Originally built to house Bell South's long distance switching equipment, our borrower acquired the property in 2005 and has since undergone a $25 million transformation into an ultra-modern, 87-unit loft development.
"Our funds will enable the borrower to complete this project and begin the immediate marketing and lease-up of the building," said Adam Glick, director of loan origination at Paradigm Capital.
MORE FROM Financial Digest
Quick Hits
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
the First Annual Project of the Year Award! Vote today!
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