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MassDevelopment issues $6.543m bond to Mental Health Association
February 9, 2024
Chicopee, MA MassDevelopment has issued a $6.543 million tax-exempt bond on behalf of Mental Health Association, Inc. (MHA), which will use proceeds to buy and renovate a 78,378 s/f building at 350 Memorial Dr. where it will relocate its headquarters from Springfield, Mass. and house its mental health programs and residential and support services.
Real estate without good estate planning - a troublesome problem - by Daniel Calano
February 9, 2024
I spent the better part of a day this week working with attorneys on estate planning. I am clearly not an attorney, but I have learned much over the years while consulting on real estate, its potential, its future during the life of clients, as well as, shall we say, later.
The Workout: Bifurcation and the portfolio - by David Kirk
February 9, 2024
The FED has reached a stabilizing level of economic activity, and will now be watching domestic micro as well as macro indicators for further action, including rate cutting, to achieve so-called soft landing. The FOMC has already implied that the March FOMC meeting will be too soon to expect the first rate cut and acknowledged that the downside rate risk is indeed in the discussions.
The bundle of rights for going concern - by Jeffrey Dugas
February 9, 2024
Like with other going concern properties, golf courses and marinas include a combination of real estate, and non-realty. And there is an important distinction between the two. Land and buildings (sticks and bricks) are real estate, while real property is the bundle of rights flowing from the ownership of real estate.
What to look for in 2024 - by William Pastuszek
February 9, 2024
Having put 2023 firmly behind in the rear-view mirror, let’s look at 2024. Not a lot of predictions but many things to be on the lookout for in what a less chaotic but extremely important year may be ahead.
Bianchi joins MountainOne Bank as assistant vice president, community mortgage lending specialist
February 9, 2024
North Adams, MA According to MountainOne Bank, Jason Bianchi has joined the residential lending team as assistant vice president, community mortgage lending specialist. Reporting directly to the head of residential lending, Bianchi will work out of the Berkshires, and serve as a member of the bank’s Community Reinvestment Act (CRA) committee.
Barings provides $84m refinancing
to Hotel Commonwealth in Boston
February 9, 2024
Boston, MA Barings has provided an $84 million loan to refinance the existing loan on Hotel Commonwealth. JLL advised the sponsorship on the financing from Barings. Located at 500 Commonwealth Ave., situated in Kenmore Sq., adjacent to Boston University’s campus and Fenway Park,
18-unit condo complex in Conn. funded with construction loan from Worth Avenue Capital
February 9, 2024
Montville, CT Worth Avenue Capital, LLC (WAC) has closed a $1.5 million construction loan to a Connecticut-based real estate developer. The loan proceeds are being used towards the construction of an 18-unit condominium complex.
Brady Capital Advisors facilitated $11.42 million acquisition financing for Shorelight Real Estate a...
February 9, 2024
Fitchburg, MA Brady Capital Advisors, LLC (BCA) has arranged and facilitated $11.42 million in acquisition financing for the Forest Ridge Apartments, a 90-unit, multifamily property located on 12.35 acres at 6 Mary Anna Dr. for a closing that took place on December 21, 2023.
Wheelock Street Capital and Camber Development receive $57 million loan for 800 Salem St. - arranged...
February 9, 2024
Wilmington, MA JLL Capital Markets has arranged $57 million in construction financing for 800 Salem St., an industrial logistics development totaling 237,800 s/f. The project is fully entitled with site work complete, vertical construction underway and an anticipated delivery in Q3 2024.
Merritt 7 leases over 160,000 s/f in past year, including new tenant Terex Corp.
January 26, 2024
Norwalk, CT According to Clarion Partners, LLC and Marcus Partners, Terex Corporation has signed a long-term lease at Merritt 7. Terex, a global manufacturing company, will be relocating from 45 Glover Ave. to 24,757 s/f in the recently
SAGE Investment R.E. Advisors launch new CRE investment brokerage firm
February 2, 2024
Morristown, NJ For newly launched SAGE Investment Real Estate Advisors (SAGE), helping clients realize investment goals goes well beyond what has become the industry standard. It is about giving clients what they want and need
Premeer Real Estate launches Premeer Gives Back Foundation
February 9, 2024
Smithfiled, RI Premeer Real Estate hosted an open house and ribbon cutting ceremony to celebrate the inception of its 501c3, the Premeer Gives Back Foundation.
Tobin of Lila Delman Compass sells 1456 Payne Rd. for $4.05 million
February 9, 2024
Block Island, RI Lila Delman Compass negotiated the sale of 1456 Payne Rd. for $4.05 million. Rosemary Tobin, sales associate of Lila Delman Compass’ Block Island office, represented the seller.
Bailey of Lila Delman Compass sells 15 Blueberry Ln. for $3.225 million
February 9, 2024
Jamestown, RI Lila Delman Compass brokered the sale of 15 Blueberry Ln. for $3.225 million. Bob Bailey, sales associate of Lila Delman Compass’ Jamestown office, represented the seller.
Wright of Lila Delman Compass sells condo unit at 341 Thames St. for $3.55 million
February 9, 2024
Bristol, RI Lila Delman Compass negotiated the sale of 341 Thames St., Unit 303S in the Stone Harbour complex for $3.55 million. Alyce Wright, sales associate of Lila Delman Compass’ Newport office, represented
Thursby of Lila Delman Compass sells 128 Thayer Dr. - $2.7 million
February 9, 2024
Portsmouth, RI Lila Delman Compass brokered the sale of 128 Thayer Dr. for $2.7 million. Alexandra Thursby of Lila Delman Compass’ Newport office represented the seller in this transaction.
Shepherd of Esoteric Concepts installed as 2024 president of Greater Providence Board of Realtors
February 9, 2024
East Providence, RI Kevin Shepherd, the principal broker at Esoteric Concepts, LLC, was installed as the 117th president of the Greater Providence Board of Realtors at the Squantum Association. He previously served as the
DSW, Inc. leases 15,000 s/f at Lincoln & Rose Shopping Center
February 9, 2024
Venice, CA According to Axiom Retail Advisors, DSW, Inc. has leased 15,000 s/f of retail space in the 75,00 s/f Lincoln & Rose Shopping Center, 201 Lincoln Blvd.
Thursby of Lila Delman Compass sells “Meadowgrass” for $5.9 million
February 9, 2024
Middletown, RI Lila Delman Compass sold ‘Meadowgrass’, 664 Third Beach Rd. for $5.9 million. Alex Thursby, sales associate of Lila Delman Compass’ Newport office, represented the buyer.