Financial Digest

Fantini & Gorga completes the debt placement of $7.57 million

Auburn, ME Fantini & Gorga completed the debt placement of $7.57 million for the refinancing of a 168-unit multifamily complex.  Derek Coulombe, senior managing director and Ryan Maddaluna, analyst, placed the financing on behalf of their client

MassDevelopment issue $33.628 in bonds to Notre Dame Health Care

Worcester, MA MassDevelopment has issued a $31.668 million tax-exempt bond and a $1.96 million taxable bond on behalf of Notre Dame Health Care Center, Inc., a nonprofit that owns and operates Notre Dame Long Term Care and Rehabilitation Center

Cornerstone Realty Capital arranges $3.9 million
in acquisition financing for a 12-unit apartment property

Cambridge, MA Cornerstone Realty Capital arranged $3.9 million for the acquisition of a 12-unit apartment property. The property consists of one, three-story residential building that sits on two tax parcels on the Somerville/Cambridge line. 

Mack-Cali refinances Emery at Overlook Ridge with a
$72 million mortgage from New York Community Bank

Malden, MA Mack-Cali Realty Corp. has completed multiple transactions across its residential portfolio, including the construction take-out financing of The Emery at Overlook Ridge.

Nardi joins Bluestone Bank as VP

Raynham, MA Bluestone Bank, a leading mortgage lender in southeastern Massachusetts, has hired Craig Nardi as vice president, residential lending operations manager. Nardi joins the bank with 20 years of experience across the mortgage industry.

WAC closes $350,000 loan for CT developer

Greenwich, CT Worth Avenue Capital, LLC (WAC) closed a $350,000 construction loan for a real estate developer/investor on a new “spec” house. The loan proceeds will be used to complete the construction of the house

Eastern Bank named #1 SBA Lender in MA for the 12th and in New England for the 11th year in a row

Boston, MA Eastern Bank has been named by the U.S. Small Business Administration (SBA) as one of the top lenders to small businesses for SBA 7(a) and 504 loans. Eastern Bank ranked as the No. 1 U.S. Small Business Administration (SBA) lender in Massachusetts

The Real Estate Finance Association named 2021 Board of Directors - Flynn will serve as president

The Real Estate Finance Association (REFA) has named its Board of Directors for 2021. Bill Flynn, SVP, business development, Net Lease Capital, will serve as president, along with president-elect, Lauren O’Neil, senior managing director, JLL, and treasurer Nilesh Bubna

Cornerstone arranges $21.5 million refinancing for Bob’s headquarters

Manchester, CT Cornerstone Realty Capital recently arranged $21.5 million for the refinance of Bob’s Discount Furniture’s headquarters. The property consists of a 103,500 s/f Class A office building that sits on a single 9.02-acre tax parcel. The sponsor, Waterstone Properties Group, constructed the building in 2017, and it is in excellent overall condition.

Fantini & Gorga arranges $19.975 million for Millside at Heritage Park

Canton, MA Fantini & Gorga has recently arranged transactions totaling $19.975 million for the development of Millside at Heritage Park, a transit oriented, 60-unit, age-restricted residential rental project. Casimir Groblewski, senior managing director, and Lindsay Feig, director, represented their client