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Councilwoman Coderre of Pawtucket's Ward 4 visits Combined Sewer Overflow storage facility phase III...
March 10, 2023
Pawtucket, RI Last month Ward 4 councilwoman Neicy Coderre, DPW director, Chris Crawley and Dylan Zelazo, director of administration, visited the Combined Sewer Overflow (CSO) storage facility phase III construction site, known as #RestoredWatersRI!
East Providence continues to update regulations to encourage infill development - by Roberto DaSilva...
March 10, 2023
The construction of approved residential and commercial developments are underway throughout East Providence. The city continues to update its regulations to encourage infill development along commercial corridors where infrastructure exists, such as roads, water, and sewer lines. The combination of mixed-use zoning, allowing higher densities along commercial corridors, and the high quality
REFA update: GBREB installation of officers and division presidents to be held March 20th...
March 10, 2023
Boston, MA The Real Estate Finance Association (REFA) finished a busy month with their 7th Annual Mentor Program Kick-off event on February 28th featuring 50 mentor/mentee pairs. The REFA Mentor Program provides Emerging Leader members
Casey of Sweeney Real Estate & Appraisal and Skeffington of Realty Center lease 4,631 s/f to Gursky|...
March 10, 2023
Warwick, RI Gursky|Wiens Attorney’s at Law leased the top floor, 4,631 s/f of office space, at 20 Centerville Rd. The three-story brick office building is located in Apponaug Village across from the AAA building, next to Plant City X.
MassDevelopment partners with Bay State Savings Bank to provide $3.11 million loan financing to Miss...
March 10, 2023
Worcester, MA MassDevelopment has partnered with Bay State Savings Bank to provide over $3.1 million in loan financing to Mission on Summer to assist in the renovation and conversion of the historic and long-vacant Mission Chapel at 205 Summer St.
Liquidity and default and workouts - by David Kirk
March 10, 2023
The capital markets turbulence persists and lending in the commercial property market is still sluggish. The rates are sticky. All of these conditions relate to Fed rate increases. And uncertainties related Fed action. The high employment, wage gains, job growth, and consumer spending are supporting
Micallef of Olympus Group Real Estate sells 27,000 s/f to Hope & Main for $2.07 million
March 10, 2023
Providence, RI Hope & Main, the culinary industry incubator, has purchased the 27,000 s/f mixed-use property at 945 Westminster St., in the West End neighborhood. The operation will be known as Hope & Main Providence, an extension of the company’s original training/production/marketing facility in Warren and their downtown Makers Marketplace
Office space demand slowing: Loan defaults ahead? - by Daniel Calano
March 10, 2023
Everyone, including myself, has opined about when and whether workers would return to the office. In the end, despite some aggressive pressure from employers, a hybrid work style has evolved, typically with employees working from home for two or three days/week, and in the office
Bank Rhode Island provides $2.6 million financing to Walter Bronhard Real Estate development of 6-un...
March 10, 2023
Providence, RI The commercial real estate division of Bank Rhode Island (BankRI) provided $2.6 million in financing to Walter Bronhard Real Estate for the development of a multi-unit residential property on Planet St. Construction is underway and the resulting apartments will be utilized as housing for students.
Paolino Properties purchases 26,855 s/f
former Peoples Savings Bank Building for $2 million
March 10, 2023
Providence, RI Paolino Properties acquired 70 Kennedy Plaza, known as the Peoples Savings Bank Building. Built in 1947, the building sits between Kennedy Plaza and Westminster St. The closing date for the acquisition was March 1, 2023.
Appraising for the Appellate Tax Board Program
March 10, 2023
The MA-RI-ME chapter of the Appraisal Institute is pleased to be holding a four-hour program entitled “Appraising for the Appellate Tax Board – Expanding Your Scope of Work Services” on May 3rd at the Hilton Boston/Dedham Hotel.
Housing markets: A year later - by Bill Pastuszek
March 10, 2023
Housing robustness was the theme of 1-4 family housing a year ago. Looking back, the differences between then and now are dramatic. Higher rates, inflationary pressures, and the Russian invasion of Ukraine are factors that have changed the face of housing.
Mondelci named New Leader in Banking recipient
March 10, 2023
Essex, CT According to Diane Arnold, president and CEO of Essex Savings Bank, Hilary Mondelci, assistant vice president, loan administration manager and assistant corporate secretary, was selected as 2023 New Leaders in Banking Award recipients.
Smith & Henzy Advisory Group secures $37.5 million construction financing
March 10, 2023
Newington, CT Delray Beach, FL-based developer Smith & Henzy Advisory Group has secured $37.5 million in construction financing for the development of The Pike, 151-unit multifamily property.
Cirone elected to the board of trustees at Union Savings Bank
March 10, 2023
Danbury, CT According to Lucie Voves, chair, Union Savings Bank (USB) board of trustees, Anthony Cirone, Jr., CPA and managing partner at Cironefriedberg LLP has been elected to the USB board of trustees.
EagleBridge Capital arranges $6.14m construction/permanent mortgage for new CVS pharmacy
March 10, 2023
Braintree, MA EagleBridge Capital has arranged construction/permanent mortgage financing in the amount of $6.14 million for a new long-term leased CVS pharmacy. The financing was arranged by EagleBridge principal, Ted Sidel.
Fantini & Gorga arranges $12 million first mortgage for Gateway Sq., Burlington, VT - arranged by Cl...
March 10, 2023
Burlington, VT Fantini & Gorga arranged a $12 million first mortgage for Gateway Sq. The non-recourse loan was placed by Wayne Clough and Colin Monahan with a regional bank for the refinancing of 30 and 40 Main St., commonly known as Gateway Sq.
SIOR’S Spring 2023 event April 26-29, 2023 Montreal, Quebec, Canada
March 10, 2023
Join leaders from every facet of industrial and office commercial real estate and across the globe as they come together to share tactical knowledge, hear different perspectives on emerging market trends and form strong relationships that facilitate business deals.
Cresa releases annual Market Insight Reports
March 10, 2023
Boston, MA Commercial real estate firm Cresa released its annual Market Insight Reports. As the leading provider of tenant-focused real estate services, Cresa provides a unique, unbiased perspective on the state of the market, notable trends, and considerations
Roden wins Dacon Founders Scholarship
March 10, 2023
Natick, MA Wentworth Institute of Technology has selected Catherine Roden as the 2023 winner of the Dacon Founders Scholarship. Established in the memory of four founding individuals – Dick Kuchinsky, Dennis Leahy, Ron Gagnon and Patricia Canelli – the scholarship