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WAC funds a $150,000 loan on a foreclosed property
May 12, 2023
New Haven, CT Worth Avenue Capital, LLC has closed a $150,000 commercial loan on a multifamily house in the Westville neighborhood. The loan proceeds were used by the borrower to purchase the property out of foreclosure well below market price. The loan is secured by a first mortgage on the property with an underlying LTV of 54% prior to the borrower fully renovating the property.
Cornerstone Realty Capital arranges $3.47m Eagle Hill development
May 12, 2023
East Boston, MA Cornerstone Realty Capital arranged $3.47 million in financing for the acquisition and construction of a residential condominium development. The development will feature 6 condominiums, a mix of (1) two-bedroom, two-bathroom, (1) three-bedroom, two-bathroom, (3) three-bedroom, two and a half bath, and (1) three-bedroom, four-bathroom. Units will range from 1,010 s/f to 1,597 s/f.
EagleBridge Capital arranges $22m construction/permanent financing
May 12, 2023
Redding, CT EagleBridge Capital has arranged construction/permanent mortgage financing in the amount of $22 milllion for a new self-storage facility property under construction. The mortgage financing was arranged by EagleBridge senior director Brian Walsh who said that the loan was provided by a major national bank.
BankRI arranges $7.84m in acquisition and construction financing to DHStone Mystic
May 12, 2023
Mystic, CT Bank Rhode Island (BankRI) closed a deal to finance the purchase and renovation of a Connecticut hotel. The bank’s Commercial Real Estate division provided a $7.84 million acquisition and construction loan to DHStone Mystic, LLC for 55 Whitehall Ave. The 4.92-acre property features a two-story, 120-room hotel with 130 open parking spaces and is located off I-95 at the Mystic Aquarium and Mystic Seaport exit.
Marcone Capital arranges $25 million financing for Dedham Executive Center
May 12, 2023
Dedham, MA Mike Marcone of Marcone Capital, Inc. has arranged $25 million in financing of Dedham Executive Center, a 180,789 s/f office building centrally located at 980 & 990 Washington St. Dedham Executive Center sits on a 2.76 acre campus and includes a three-level parking garage with direct building access, a large full service cafeteria, outdoor patio, conference center, two lobby areas, game room, fitness center, and a window line.
Philbrick and Kermes of Mott & Chace Sotheby’s International Realty sell 600 Main St. in Wakefield...
May 12, 2023
Wakefield, RI Mott & Chace Sotheby’s International Realty brokered the sale of 600 Main St. in South Kingstown for $2 million. The sellers were represented by Claudia Philbrick, and the buyers were represented by Janet Kermes,
Quonset: Positioning Rhode Island for success in offshore wind development - by Steven King
May 12, 2023
Quonset’s success as a leader in economic and industrial development has been driven in large part by our ability to anticipate, and then meet, the needs of the marketplace. Today, Quonset is positioned to become a hub for offshore wind in the Northeast
Busy calender for all to enjoy in the city of Warwick this summer - by Frank Picozzi
May 12, 2023
The city of Warwick certainly has a robust and diverse commercial base. And, its central location in the heart of southern New England, coupled with easy access to I-95 and I-295, Rhode Island T.F. Green International Airport and the InterLink
Alves of Elite Commercial honored by CREXI
May 12, 2023
Riverside, RI Michael Alves, president and owner of Elite Commercial Realty, a subsidiary of KW Commercial, has been recognized with the Platinum Broker Award 2023 from CREXI, a commercial real estate platform. The award
City offers grants for supporting arts programming and operating costs for 501(c)(3) art groups
May 12, 2023
Pawtucket, RI The city of Pawtucket is proud to announce the availability of arts grants to support and expand arts and cultural activities in the City, and to assist with operational costs for 501(c)(3) art organizations.
City meets and on a mission to exceed 10% affordable housing goal - by Roberto DaSilva
May 12, 2023
East Providence residents have long known that the city represents an excellent balance of affordability and quality of life with close proximity to the heart of the Providence metro area. The city has proven to be a desirable place
Foncellino Team of Coldwell Banker Commercial sells 4,000 s/f at 36 Greco Lane
May 12, 2023
Warwick, RI The Foncellino Team of Coldwell Banker Commercial listed and sold a 4,000 s/f daycare facility on a 13,000 s/f lot at 36 Greco Lane for $500,000.
Dacon, Union Studio, and Carpionato collaborate on 4,800 s/f Lifespan Urgent Care facility
May 12, 2023
Johnston, RI In collaboration with Carpionato Group and Union Studio, Dacon Corp. has completed a new 4,800 s/f Lifespan Urgent Care facility at 11 Commerce Way. As Rhode Island’s first healthcare system and a not-for-profit
CP Management officially opens Rhode Island office
May 12, 2023
Providence, RI CP Management has been managing properties in Rhode Island for over a decade and recently decided to formalize its presence. A longtime New Hampshire client originally expanded to Rhode Island and
Compass sells two East Side properties totalling $2.52 million
May 12, 2023
Providence, RI Compass brokered the sale of two properties on the city’s East Side, 47 Oriole Ave. and 150 Slater Ave., were sold for $1.32 million and $1.2 million respectively. Both properties were listed and sold by agents
Sweeney Real Estate & Appraisal leases 16,296 s/f to Homex Services Group, LLC
May 12, 2023
Lincoln, RI Homex Services Group, LLC the parent company of GEM Plumbing & Heating, leased 16,296 s/f of office space in the River Place Office Building, located at 695 George Washington Hwy.
Bliss Properties sells 60,000 s/f Bellevue Gardens Shopping Center to Procaccianti Companies for $40...
May 12, 2023
Newport, RI As Bliss Properties celebrates their 100th anniversary as a 4th-generation operated and owned company, they have sold The Bellevue Gardens Shopping Center to the Procaccianti Companies for $40 million.
Project of the Month: NEI General Contracting
completes renovation of 490,000 s/f Rivermark
May 5, 2023
Cambridge, MA NEI General Contracting, an award-winning general contracting firm, has completed a 490,000 s/f occupied renovation of an affordable housing complex for Homeowners Rehab, Inc. (HRI). Located at 808-812 Memorial Dr., the Rivermark complex contains 89 apartments in a 10-story building, 211 apartments in a 19-story building, 38,000 s/f of commercial space, and five levels of parking.
IFMA Boston names winners of 2023 Awards of Excellence
May 5, 2023
Boston, MA The Boston chapter of the International Facility Management Association (IFMA), a non-profit association dedicated to serving the facility management profession, today announced the winners of the 2023 Awards of Excellence. Presented to recipients at the 20th Annual Awards of Excellence event on May 10th. This year’s IFMA Boston awards will take place over breakfast at the organization’s signature event – FMForward at Bentley University.
CAI - College of Community Association Lawyers
May 5, 2023
Boston, MA Since 1994 CAI recognizes excellence in the practice of community association law through the College of Community Association Lawyers (CCAL).