News: Front Section
Posted: December 17, 2021
Worth Avenue Capital places $130,000 loan
New London, CT Worth Avenue Capital, LLC (WAC) closed a $130,000 CRE loan for a real estate investor who purchased several commercial condominium units. The loan is secured by a blanket first mortgage on the condominium units as well as a second mortgage on the borrower’s personal residence in New Haven County. The borrower will be relocating their small business to this new location and will seek to rent out the remaining units to generate rental income. The LTV on this loan is approximately 50%.
The borrower expects to obtain conventional financing on the condominium units within the next six months thus enabling them to pay off WAC's bridge loan in full.
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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