Providence, RI EagleBridge Capital, working exclusively on behalf of its client, Waldorf Capital Management, has arranged construction/permanent mortgage financing in the amount of $25.15 million for Chestnut Commons located at 91 Chestnut St. in the Innovation and Design District and near the Jewelry District in downtown.
The mortgage financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel, who stated that the loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of Darrow Everett.
Chestnut Commons is a six-story, 116,000 s/f, residential building consisting of 92 one and two-bedroom residential units, 6,000 s/f of street-level retail space, plus 5,000 s/f of publicly accessible green space. Amenities will include a fitness center, resident accessible roof terraces, and covered parking. The apartments will offer premium contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and storage space. The architect for the project is The Architectural Team, Inc.
The new mixed-use community is located adjacent to 95 Chestnut St., a six-story, 58,500 s/f, residential building consisting of 59 apartment units plus ground floor commercial space which was redeveloped by Waldorf.
Located nearby are the Brown University Warren Alpert Medical School, The Brown University Molecular Medicine Building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.