Providence, RI EagleBridge Capital, working exclusively on behalf of its client, has arranged permanent mortgage financing in the amount of $12.65 million for 95 Lofts located at 95 Chestnut St. in the Knowledge District and near the historic Jewelry District in downtown.
The mortgage financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel who stated that the non-recourse loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.
95 Lofts is a six-story, 58,500 s/f, residential building consisting of 59 apartment units plus 2,500 s/f of ground floor commercial space. The building constructed in 1904 and then known as the Irons and Russell Building has undergone an extensive historical renovation in which period details have been carefully restored including an original ornate birdcage elevator, stairway subway tile, and terrazzo tile floors. The units feature abundant natural light, exposed brick walls, high ceilings, original maple floors, and unique layouts.
The apartments offer contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and storage space. Other features include high speed wifi, a smartphone entry system, and high efficiency heating and cooling. There are 33 one bedroom units and 17 two bedroom units and 9 studios.
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.
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and r & d buildings, shopping centers, hotels, condominiums and mixed use properties as well as special purpose buildings.