Financial Digest

Cornerstone Realty Capital places $2.8 million for acquisition of a mixed-use property

Hingham, MA Cornerstone Realty Capital has arranged $2.8 million in financing for a mixed-use property. The property includes a total of 17 units, comprised of 14 office and three retail units occupied by a pizza restaurant, a dry cleaner

Boston Realty Advisors secures $30.9m construction financing on behalf of sponsor, Jones Street Investment Partners

North Attleborough, MA Boston Realty Advisors has secured a $30.9 million construction loan for the ground up redevelopment of 21 East St. – a class A apartment property consisting of 193 market rate apartment units and 11,500 s/f of retail.

Rockland Trust acts as lead financier for a $13.8 million construction loan for ground-up construction of the new 5-story, 48-unit development

Brockton, MA Rockland Trust and NeighborWorks Southern Mass were joined by lieutenant governor Karyn Polito and mayor Bill Carpenter to celebrate the groundbreaking of Sycamore on Main, a 100% affordable housing

Groblewski and Garcia of Fantini & Gorga arrange $2.48 million financing for Eastway Plaza

Brockton, MA Fantini & Gorga has arranged $2.48 million in acquisition financing for Eastway Plaza, located at 587 Centre St. Fantini & Gorga placed the financing on behalf of one of its long-standing clients.

Brookline Bank hires Matera as vice president in the bank’s commercial real estate banking division

Brookline, MA Joan Matera has joined Brookline Bank as vice president in the bank’s commercial real estate banking division. Matera brings more than 20 years of commercial real estate banking and investment experience to Brookline Bank.

Worth Avenue Capital closes a $1 million loan

Bridgeport, CT Worth Avenue Capital, LLC (WAC) closed a $1 million loan to a real estate development group on a prime location in Fairfield County. This loan was funded as a “follow on” debt placement on a $3.5 million loan

HFF arranges $111.5m financing for 80 Guest St. at Boston Landing on behalf of the borrower, NB Development Group

Brighton, MA Holliday Fenoglio Fowler, L.P. (HFF) has arranged $111.5 million in first mortgage financing for 80 Guest St., a 245,720 s/f, trophy office and lab property situated in the Boston Landing master-planned development.

The Village Bank promotes Jirichian to assistant treasurer and hires Cavanaugh and Zacharer

Auburndale, MA The Village Bank has promoted JoAnn Jirichian abd has hired Reilly Cavanaugh and Susan Zacharer. Jirichian, who joined The Village Bank in 2008, was promoted to assistant treasurer/branch manager

Real Estate Finance Association July update: Annual Summer Panel & Reception will take place on August 7th

Boston, MA REFA’s Fundamentals programs are tailored as 101-type educational events covering various relevant and timely industry topics. On July 18th, REFA will be holding its second Fundamentals program of the year

Munoz of NorthMarq arranges $3.7 million construction loan for Andrews St. Apartments

Lynn, MA Jeffrey Munoz, vice president of NorthMarq’s Boston-based regional office, secured the $3.7 million construction loan for Andrew St. Apartments, a 32-unit class A multifamily property located at 38-44 Andrew St.