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Vantage Builders opens RI office - holds “Hi Neighbor!” celebration
January 13, 2023
Lincoln, RI Vantage Builders, Inc., a commercial contractor specializing in pre-construction, construction management and design-build services, has opened a Rhode Island office, located at 42 Albion Rd. The office is the firm’s third, joining its headquarters in Waltham, Mass. and a branch office in Orlando, Fla.
Quonset Business Park’s success is a win for entire Ocean State - by Steven King
January 13, 2023
From beginning to end, 2022 was a momentous year for Quonset. Every season generated more good news for the business park as we completed important projects or began new ones.
Proposed Skye City Centre development seeks approval - by Frank Picozzi
January 13, 2023
Already, the New Year is shaping up to carry forward the momentum of new development in and near City Centre Warwick (CCW), our community’s premier, award-winning transit-oriented development concept. Owners of property that was home to Leviton Manufacturing for decades have announced their intention to seek planning board approval
Doorley-Lucas of Mott & Chace Sotheby’s sells 74 Briarcliff Ave. for $2.443 million
January 13, 2023
Warwick, RI Mott & Chace Sotheby’s International Realty sold the waterfront home at 74 Briarcliff Ave. for $2.443 million. Amy Doorley-Lucas, sales associate of Mott & Chace Sotheby’s International Realty,
Olympus Group Real Estate and CBRE lease 20,400 s/f to Rhode Island School of Design at 159 Weybosse...
January 13, 2023
Providence, RI Rhode Island School of Design (RISD) has leased the entire four-level building of 20,400 s/f at 159 Weybosset St. for an initial seven-year term, plus renewal option.
Pawtucket-Central Falls Commuter Rail Station has arrived - by Donald Grebien
January 13, 2023
While we have faced some delays, the day is finally here. On January 23, the ribbon will be cut on an all new Pawtucket-Central Falls Commuter Rail Station. Residents of Central Falls and Pawtucket can expect a brand-new train station as well as a surrounding transit-oriented development district that provides MBTA service to Providence and Boston
East Providence amends zoning ordinance for mixed-use category - by Roberto DaSilva
January 13, 2023
In December of 2022, the city amended the East Providence zoning ordinance to increase the productive use of commercial buildings. The adopted amendments to the zoning ordinance allow for mixed-use in all commercial districts, reduced parking requirements for office and retail uses,
Elite Commercial Realty opens new main office in Riverside
January 13, 2023
East Providence, RI According to Michael Alves, president and owner of Elite Commercial Realty, a subsidiary of KW Commercial, the commercial real estate consulting firm has opened its new main office at 250 Wampanoag Trail.
Horvath & Tremblay sells four properties in New England for $9.45 million - including $2.3 million s...
January 13, 2023
South Kingstown, RI Jack Laurendeau, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have completed the sale of Dollar General. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,292,800. Dollar General is located at 1860 Kingstown Rd.
REFA names its board of directors for 2023
January 13, 2023
Boston, MA The Real Estate Finance Association (REFA) has named its board of directors for 2023. Nilesh Bubna, founding partner and CFO, Longpoint Realty Partners, will serve as president, along with president-elect Ravi Ragnauth, CFO, Berkshire Residential Investments, and treasurer, Jill Sharif, VP, National Business Development, Commonwealth Land Title Insurance Company NCS.
MassDevelopment, Eastern Bank and Rockland Trust issue $19.64 million bond to 120 Washington 4 LLC
January 13, 2023
Worcester, MA MassDevelopment has issued a $19.64 million tax-exempt bond on behalf of 120 Washington 4 LLC, an affiliate of Boston Capital Development, LLC, which will use proceeds to construct 59 units of mixed-income affordable rental housing at the site of the former headquarters of Table Talk Pies at 120 Washington St.
Hindsight for 2023 - Starting over - by David Kirk
January 13, 2023
Hindsight is good for following patterns forward! Dust off the rates. Open the gates. Let’s get going. Get the shovels and the paint and pave the drives with care. We are shovel ready and not too soon for a new coat. We deal with certainties and build for the future, hedging the known uncertainties, and taking risks.
Future office use: Cacancy vs. availability - by Daniel Calano
January 13, 2023
Just last summer, with COVID mostly under control, the big discussion from every venue was whether employees would return to the office, or not. The debate was intense, as some companies tried to insist upon having employees back in their office seats. Other companies were allowing work from home on Fridays and Mondays.
CT Chapter of the Appraisal Institute update for 2023 - by Jacqueline Beauchaine
January 13, 2023
On December 8, 2022 the 2023 Connecticut Chapter slate of officers and directors were installed by chapter past president Linda Sepso, SRA at Casa Mia at the Hawthorne. Chapter Officers and Board of Directors are as follows:
The year ahead: What’s 2023 going to look like? - by William Pastuszek
January 13, 2023
For most real estate professionals, including lenders and appraisers, 2022 was a transitional year. For the most part, gone is the “blue skies forever” thought processes. Instead, endless optimism is being replaced with a good deal more balance and perspective.
Eagle Rock Properties secures $323 million in financing for a 1,314-unit portfolio in MA & NH
January 13, 2023
Framingham, MA New York-based Eagle Rock Properties has secured $323 million in financing for a 1,314-unit portfolio of five multifamily properties located in MA and NH. The properties are situated in Framingham, Swampscott and Brighton, Mass. and in Nashua, NH.
Coulombe of Fantini & Gorga completes $5.5 million permanent loan for a mixed-use Newbury St. prope...
January 13, 2023
Boston, MA Fantini & Gorga has completed the placement of a $5.5 million permanent loan for a mixed-use Newbury St. property. Derek Coulombe, senior managing director at Fantini & Gorga structured and placed the financing with a regional bank
Sherin and Lodgen reps. Cambridge Savings Bank in $32 million financing of six solar sites in MA & R...
January 13, 2023
Boston, MA According to law firm Sherin and Lodgen LLP, its renewable energy practice group represented lender Cambridge Savings Bank in a $32 million loan facility to affiliates of Kearsarge Energy for construction and permanent financing of six solar photovoltaic and energy storage systems
MassHousing closes $31 million affordable housing financing to CSI Support & Development Services
January 13, 2023
Charlestown, MA MassHousing has closed on $31 million in affordable housing financing to CSI Support & Development Services for the refinancing, renovation and extension of affordability of City Square Elderly Housing.
Cornerstone Realty Capital arranges $74.3 million in financing for two properties
January 13, 2023
Boston, MA Cornerstone Realty Capital arranged $15.8 million for the refinance of a 47-unit apartment property located in the Fenway neighborhood of the city. The property consists of a single, four-story apartment building and contains a mix of studios, one-bedroom, two-bedroom, and three-bedroom units.