Financial Digest

Richard Ashworth of Ashworth Mortgage passes away at age 76

Dedham, MA Richard Ashworth, age 76, of Dedham, formerly of Needham and Newton, passed away on Sunday, September 27. Richard was with Ashworth Mortgage, a long time New England Real Estate Journal advertiser and financier of commercial real estate.

Cornerstone Realty Capital arranges $13.6 million financing

Manchester, NH Cornerstone Realty Capital arranged $13.6 million in financing for the refinance of a portfolio of multifamily and mixed-use properties located throughout the city. The portfolio, compromising 242 units spread across 10 buildings, has a mix of 47 studio units, 85 one-bedroom units,

Washington Trust provides $21 million to Readco Capital Advisors, LLC for the redevelopment of former Toys R Us building

Waterford, CT Washington Trust’s Commercial Real Estate Group has provided $21 million to Readco Capital Advisors, LLC for the acquisition and re-development of the former Toys R Us building located on Dayton Rd. Readco Capital Advisors arranged a 15-year lease with Hartford Healthcare

Rockport Mortgage places an FHA Section 223(f) refinancing loan totaling $32.8 million for Mountain View Terrace Apartments

Stoneham, MA Rockport Mortgage Corp. completed the closing of an FHA Section 223(f) refinancing loan totaling $32.8 million for Mountain View Terrace Apartments. The 194-unit property consists of one and two-bedroom apartments for elderly residents and smaller families, as well as three

Spiegel Associates arranges $30 million loan for Stockbridge Landing

Scituate, MA Sidney Spiegel of Spiegel Associates has arranged a $30 million acquisition and construction loan for Stockbridge Landing on Stockbridge Rd. The loan was funded by a regional bank

MassHousing provided $25 million in financing to Brookline Housing Authority

Brookline, MA MassHousing has provided $25 million in financing to the Brookline Housing Authority (BHA) to provide significant improvements to the 99-unit Morse Apartments and extend the affordability for lower-income senior citizens living there for at least 75 years

EagleBridge Capital arranges $2.55m in mortgage financing

Rumford, RI EagleBridge Capital, has arranged permanent mortgage financing totaling of $2.55 million for apartment buildings located in Rumford, and Washington D.C. The Rhode Island mortgage financing was arranged by EagleBridge principal Ted Sidel

MassDevelopment issues $77.255m bond to Simmons University

Boston, MA MassDevelopment has issued a $77.255 million tax-exempt bond on behalf of Simmons University, which will use proceeds to renovate and convert LeFavour Hall and a portion of the Main College Building into a new science center. The updated facility, expected to be complete

Groblewski and Maddaluna of Fantini & Gorga place $2.65m refinance for a Walgreens store

Boston, MA Fantini & Gorga completed the debt placement of $2.65 million for the refinancing of a Walgreens in Amarillo, TX. Casimir Groblewski, senior managing director and Ryan Maddaluna, analyst, placed the financing on behalf of their client, a team of California-based investors who manage

Bridgewater Savings Bank and Mansfield Bank combine to form Bluestone Bank

Raynham, MA According to Peter Dello Russo, CEO, together with Meg McIsaac, president, Bridgewater Savings Bank and Mansfield Bank have  join together, effective October 1st. The two well-established community banks with a long history of service in southeastern Massachusetts joined together