Financial Digest

MassDevelopment issues $5.928m tax-exempt bond on behalf of Walnut Street Center, Inc.

Bedford, MA MassDevelopment has issued a $5.928 million tax-exempt bond on behalf of Walnut Street Center, Inc. and its affiliate Community Alternative Residential Environments, Inc. The organizations will use bond proceeds to buy and renovate 4-6 Alfred Circle, a 17,500 s/f building

Cronheim Mortgage secures $5.5 million permanent financing for Fairfield Shopping Center

Fairfield, CT Cronheim Mortgage has secured $5.5 million for the refinancing of the Fairfield Shopping Center, a 72,000 s/f neighborhood retail property. Andrew Stewart, Dev Morris, and Allison Villamagna placed the financing with a portfolio lender on behalf of Albert D. Phelps, Inc.

Cela Development secures $6.34 million in financing from Rockland Trust for construction of a mixed-use property

Weymouth, MA Cela Development Inc. has secured $6.34 million in financing from Rockland Trust for the construction of a mixed-use property on Bridge St. The property spans three floors totaling 31,000 s/f with the ground level designated for retail space.

JLL Capital Markets secures $27.3 million in financing for a two-building industrial portfolio for NorthBridge Partners

Hartford, CT JLL Capital Markets has secured $27.3 million in financing for a two-building industrial portfolio spanning over 315,000 s/f in Central Mass. and Greater Hartford, Conn.

Tropp of Eastern Union arranges $13.297 million financing for ground-up construction of a self-storage facility

Worcester, MA Marc Tropp, a senior managing director with Eastern Union, has secured $13.297 million in financing toward the ground-up construction of a four-story, 931-unit, self-storage facility at 80 Barber Ave.

Staiti promoted to senior vice president, regional executive for commercial banking at Rockland Trust

Worcester, MA According to Rockland Trust, Peter Staiti has been promoted to the position of senior vice president, regional executive for commercial banking. In this new role, Staiti will be responsible for leading and managing a team of experienced commercial banking professionals across Worcester County and Central Massachusetts.

The Village Bank awards 18 scholarships to Class of 2024 students

Newton, MA According to Joseph A. De Vito, president and CEO of The Village Bank, the Auburndale Community Charitable Foundation has awarded scholarships totaling $52,000 to 18 local students.

Colliers arranges $11 million in financing for Tremont Asset Management LLC

Boston, MA Colliers has arranged $11 million in financing for two multifamily properties on behalf of Tremont Asset Management, LLC, a real estate investment and management company that with affiliates has a portfolio of over 3,500 class A apartments

Rockland Trust appoints Reilly as vice president

Methuen, MA Rockland Trust has appointed Chris Reilly as vice president and commercial banking officer for the bank’s growing North of Boston team. In this role, Reilly will build relationships with mid-size companies across Northern Massachusetts and Southern New Hampshire.

Real Estate Finance Association hosts charitable golf and tennis tournament on July 29th at Woodland Golf Club

Boston, MA REFA hosted its 2024 charitable golf and tennis tournament on Monday, July 29th.  In rain and sun, 124 golfers and 13 tennis players gathered for an exciting afternoon at Woodland Golf Club that included a golf tournament, tennis tournament