Category: Financial Digest
Multi-family markets in transition – Value implications - by William Pastuszek
September 15, 2023
The commercial real estate (CRE) landscape looks considerably different at the end of this summer than it did a year or so ago. The commercial real estate asset run up has been over for the better part of a year. Some classes are better off than others. Some locations have done better than others. This article will focus on multi-family in Eastern Mass. Investors have become more discriminating and some are taking a break, sitting on the sidelines.
MassDevelopment issues $18 million bond to New England Historic Genealogical Society to expand facil...
August 11, 2023
Boston, MA MassDevelopment has issued an $18 million tax-exempt bond on behalf of New England Historic Genealogical Society (NEHGS), also known as American Ancestors, which will use proceeds to expand its facility on Newbury St. to add a Visitor Complex and make other improvements. NEHGS will reconstruct and expand a vacant building at 97 Newbury St., and connect
Cornerstone Realty Capital arranges $8.125 million in financing
August 11, 2023
Bourne, MA Cornerstone Realty Capital has arranged $8.125 million in financing for the acquisition and renovation of a residential apartment complex. The property sits on a 4.03-acre parcel and is comprised of four 10-unit apartment buildings
Walsh of EagleBridge Capital arranges $15 million financing
for 31 property multifamily portfol...
August 11, 2023
Boston, MA EagleBridge Capital has arranged permanent mortgage financing in the amount of $15 million for a diverse multifamily portfolio located in Southern New England.
Merkle to retire from Union Savings Bank - Reyes to take over as president and CEO
August 11, 2023
Danbury, CT According to the Union Savings Bank board of trustees, Cynthia Merkle is retiring as CEO of the community bank effective later this month. Current president Chelen Reyes has been elected to serve as both president and CEO.
Groblewski and Monahan of Fantini & Gorga
arrange $10.085m financing
August 11, 2023
Needham, MA Fantini & Gorga has arranged $10.085 million in acquisition financing on behalf of its client, Union Station LP (USLP), an affiliate of a leading retail investment and management family office based in Greater Boston.
Rockland Trust hires Weinberg as senior vice president, lending center manager in Peabody
August 11, 2023
Peabody, MA Rockland Trust has expanded its local commercial lending team with the appointment of Ryan Weinberg, Esq., to senior vice president, commercial lending center manager. In this role, Weinberg will be leading a team of lenders specializing in commercial real estate
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Rockland Trust provides $4 million in financing for the Greendale Revitalization Initiative
August 11, 2023
Worcester, MA New Garden Park, Inc., a subsidiary of the Worcester Business Development Corp. (WBDC), secured $4 million in financing from Rockland Trust for the initial phases of the Greendale Revitalization Initiative.
Maugel DeStefano Architects designs new bank branch for Milford Federal Bank
August 11, 2023
Milford, MA Maugel DeStefano Architects has begun construction on a new Milford Federal Bank branch located at 67 Medway Rd. Sited on the high visibility corner of Medway and Branch Sts., the ground-up construction features a large open concept public banking area with exposed structure, individual banking pods
Worth Avenue Capital, LLC closes two loans totaling $1.125 million
August 11, 2023
Westport, CT Worth Avenue Capital, LLC (WAC) closed a $300,000 commercial loan for a Connecticut-based real estate developer. The loan proceeds will be used for working capital purposes for his various real estate projects that are evolving.
Sidel of EagleBridge Capital arranges $3.9 million mortgage financing for an apartment property loca...
July 14, 2023
Boston, MA EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $3.9 million for an apartment property located on Grove St. in the city’s Beacon Hill neighborhood, one of the city’s oldest residential communities.
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