Category: Financial Digest
Know the risk and proceed with caution - by David Kirk
May 12, 2023
The Fed has increased the guidance for interbank lending rate 25 basis points to 5-5.5%, again, as announced May 3, 2023. Only the minutes of the meeting to be released at a later date will record the vote to do so. Chairman Powell did add some qualifying remarks in announcing the decision which underly this decision. Pause is being discussed.
Who wants to be a millionaire? - by Kyle Kadish
May 12, 2023
As voters headed to the polls last November, Massachusetts residents approved a constitutional amendment officially called “The Fair Share Amendment”. Selling real estate might subject investors to an additional tariff in their year of sale.
Busy spring for REFA
May 12, 2023
Boston, MA REFA has been busy this spring prepping for upcoming events and programs. The next education program about valuations in the commercial real estate market will be on Tuesday, June 20th, 12:00 P.M., at 101 Seaport Blvd., PwC. The panel will be moderated by Andrew Alperstein, Real Estate partner, CPA, CRE, FRICS, PwC.
Cornerstone Realty Capital arranges $8.1 million in financing for a 43-unit apartment property in Sa...
April 14, 2023
Saugus, MA Cornerstone Realty Capital recently arranged $8,100,000 for the refinance of Pennybrook Gardens, a 43-unit apartment property. Pennybrook Gardens sits on a 2.689 acres and consists of six two-story apartment buildings
MassDevelopment issues $151.7 million in tax-exempt bonds on behalf of affiliates of public housing ...
April 14, 2023
Boston, MA MassDevelopment has issued $151.7 million in tax-exempt bonds on behalf of affiliates of public housing authorities in Brookline, Cambridge, Framingham, and Medford, which will use bond proceeds to renovate and preserve 368 units of housing
The convenience in depreciation - by Kyle Kadish
April 14, 2023
A handful of convenience stores with gas stations have opened across southern New Hampshire in the past few years, and many more like them have sold across the region. More likely than not, benefits and advantages from 2017’s Tax Cut and Jobs Act drove interest in the asset class.
Sidel of EagleBridge Capital handles $2.232 million mortgage financing
April 14, 2023
Boston, MA EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $2.232 million for an apartment property located on Snow Hill St. in the North End neighborhood, the city’s oldest residential community.
LBC Boston secures $50 million financing for NOVA Hancock - led by Rockland Trust
April 14, 2023
Quincy, MA LBC Boston secured a $50 million financing package led by Rockland Trust for the construction of NOVA Hancock, an apartment complex in downtown. NOVA Hancock is LBC Boston’s second project
Nogueira retires from East Cambridge Savings - Bombard named president
April 14, 2023
Cambridge, MA Gilda Nogueira, president and CEO of East Cambridge Savings Bank since 2012, plans to retire later in 2023. The announcement was made at the annual meeting of East Cambridge Savings Bank and 1854 Bancorp, the bank’s mutual holding company.
REFA is steadfast prepping and hosting events in 2023
April 14, 2023
Boston, MA The Real Estate Finance Association (REFA) hosted its second education program of the year: MBA Recap & Boston’s Lending Environment on Wednesday, March 8th at Atlantic Wharf, 290 Congress St.
Brown promoted to senior vice president, chief financial officer at Essex Savings Bank
April 14, 2023
Essex, CT According to Diane Arnold, president and CEO of Essex Savings Bank, Debra Brown has been promoted to senior vice president, chief financial officer in the wake of the current senior vice president chief financial officer Shawn Honan’s pending retirement
The Village Bank hires Cruz as assistant vice president, fraud officer
April 14, 2023
Newton, MA According to Joseph De Vito, president and CEO of The Village Bank, they have hired Jennifer Cruz as assistant vice president/fraud officer.
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