Financial Digest

Rockland Trust secures $5.1 million financing for
Boston Pinnacle Properties

Boston, MA Boston Pinnacle Properties secures $5.1 million in financing from Rockland Trust for a 145-year-old building on Franklin St. as part of the city’s Downtown Residential Conversion Incentive Program. This will be the first project to secure funding since the Boston Planning and Development

MassDev. issues $39.9m tax-exempt bond to 32 Marion Apts. LLC - Eastern Bank and Rockland Trust purchase bond

Brookline, MA MassDevelopment has issued a $39.9 million tax-exempt bond on behalf of 32 Marion Apartments LLC, an affiliate of Brookline Housing Authority, which will use proceeds to build 115 units of affordable housing for seniors and individuals with disabilities in the Coolidge Corner

Real Estate Finance Association
jumps into a busy spring

Boston, MA Last month the REFA Innovation Committee hosted an exclusive tour of Suffolk Technology on March 19th. The tour group heard from the vice president of platform, Parker Mundt, about Suffolk’s commitment to leveraging technology and creativity

JPMorgan Chase hires Fauth to support Community Development Banking

Boston, MA As part of JPMorgan Chase’s commitment to expanding its market presence, the firm hired Jennifer Fauth to support Community Development Banking (CDB). In her new role, Fauth will manage the delivery of affordable housing and banking products to clients across New England.

Bank Rhode Island finances construction
of The One Ten apartment project

North Kingstown, RI Bank Rhode Island’s (BankRI) commercial real estate division has financed the construction of a new luxury apartment building. The building will be branded The One Ten and the project is already in progress. It is the latest development of Moran Properties and represents the final phase of the Saw Mill Square

Eastern Bank adds DPV Transportation as a commercial banking customer

Boston, MA According to Eastern Bank, global ground transportation company DPV Transportation, Inc. (DPV) is the bank’s newest commercial banking customer. Headquartered in Everett, Mass., DPV is one of the largest certified minority-owned ground transportation businesses in New England

Worth Avenue Capital, LLC closes $4.2 million commercial loan to home builder and developer in Greenwich, CT

Greenwich, CT Worth Avenue Capital, LLC (WAC) has closed a $4.2 million commercial loan to a luxury home builder and developer that specializes in the construction and renovation of existing homes in town. The loan proceeds were used to purchase adjoining properties on Locust St.

Essex Financial’s Furgueson, LaRiviere, Nolan, Tait, and Sullivan named to 2024 Forbes list

Essex, CT According to Essex Financial, Tim Furgueson, Michael LaRiviere, Kevin Nolan, Bill Tait, and James Sullivan have been selected to the 2024 Forbes Best-in-State Wealth Advisors list, which honors top performing wealth management and financial planning advisors in each state.

Cornerstone Realty Capital arranges $2.7 million in financing for construction of condominium development

Boston, MA Cornerstone Realty Capital arranged $2.7 million in financing for the construction of a residential condominium development. The development will feature six condominiums, a mix of three studio units, one one-bedroom unit, one two-bedroom unit, and one three-bedroom unit.

Groblewski and Monahan of Fantini & Gorga arrange $3.3 million in financing on behalf of Skydra Development LLC

Warwick, RI Fantini & Gorga has arranged $3.3 million in financing on behalf of its client, Skydra Development LLC, an affiliate of a leading development and management firm based in Massachusetts. The parcel, located near T.F. Green Airport