Financial Digest

Spiegel of Spiegel Associates arranges $8.28 million financing for hotel property purchase

Boston, MA Sidney Spiegel of Spiegel Associates has arranged a $8.28 million loan for a property at 1759-1769 Washington St. in the South End. The property was constructed in 1875 as the Alexandra Hotel. The loan was funded by a regional bank that saw the value of the property

Groblewski and Feig of Fantini & Gorga place $20.5 million in financing

Mansfield, MA Fantini & Gorga arranged a $20.5 million financing package for the development of 300 North Main, a transit-oriented, mixed-use development. Casimir Groblewski, senior managing director, and Lindsay Feig, director, arranged both the debt and the equity portions of the capital stack for the project.

Rockland Trust provides $17.7 million in financing
to Capstone Communities LLC and Hope Real Estate Enterprises LLC

Cambridge, MA Rockland Trust has provided $17.7 million in financing to local developers Capstone Communities LLC and Hope Real Estate Enterprises LLC. The financial package includes an $8.7 million construction loan and $9 million in low income housing tax credit equity.

Urban Spaces secures $71 million construction
loan for Kendall East from People’s United Bank

East Cambridge, MA Urban Spaces has finalized a $71 million construction loan with People’s United Bank for Kendall East, a mixed-use, two-building property comprised of 120 market-rate and 16 affordable apartments and 15,000 s/f of retail located in the First St.

Eastern Bank leads $11 million loan for Thorndike Development for ground-up construction of the Copperworks Condominiums

Canton, MA Eastern Bank places $11 million construction loan to Thorndike Development for ground-up construction of the Copperworks Condominiums. With first occupancies planned for this December, Copperworks is a three-story boutique condominium community

Boston Appraisal & Consulting opens Boston office at 100 Franklin St.

Boston, MA Boston Appraisal & Consulting, LLC has opened their new office at 100 Franklin St., 7th floor. Thomas Jensen, MAI, a seasoned commercial real estate appraisal industry veteran, leads the office as executive director.

JLL arranges $140 million first mortgage construction financing with Bank OZK for 289,000 s/f office and lab development

Somerville, MA JLL has arranged $140 million in financing for 101 South St., a 289,000 s/f, class A office and lab development in the Boynton Yards area of the city. The project is under construction

AmeriCann secures $4 million in financing - placed by GVC Capital

Freetown, MA AmeriCann, Inc., a cannabis company that is developing cultivation, processing and product manufacturing facilities, has secured a $4 million investment to accelerate the second phase of construction at its Massachusetts Cannabis Center

Natalizio of Cornerstone Realty Capital arranges $3.8 million financing for Lawton Place

Waltham, MA Cornerstone Realty Capital has arranged $3.8 million for the acquisition and renovation of a townhouse-style apartment building. The property, known as Lawton Place, consists of 11 three-bedroom units and one four-bedroom unit

MassHousing closes on $5.5 million in financing for 2Life Communities

Brookline, MA MassHousing has closed on a total of $5.5 million in affordable housing financing to 2Life Communities for the development of the Harold and Ronald Brown Family House, which will create 62 new, mixed-income