News: Front Section
Posted: January 13, 2023
Worth Avenue Capital, LLC closes $300,000 loan to fund the internal renovation of a 15-unit apartment building
Brooklyn, CT Worth Avenue Capital, LLC closed a $300,000 commercial loan to a real estate developer. The loan proceeds will be used to complete the internal renovation of a 15-unit apartment building. The loan is secured by a blanket second mortgage on the apartment building and a commercial building in Manchester, CT with an underlying LTV of 50%.
The developer is a multiple repeat borrower of WAC who has successfully developed several properties in Connecticut with the assistance of WAC’s short-term bridge financing. The borrower has a local bank in Brooklyn, CT that is prepared to provide long-term financing on the apartment building upon the completion of the construction. The bank’s loan will be used to pay off WAC’s bridge loan.
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McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
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.
