Financial Digest

MassDevelopment and M&T Bank deliver
$16.5 million bond to Brimmer and May School

Chestnut Hill, MA MassDevelopment has issued a $16.5 million tax-exempt bond on behalf of the Brimmer and May School (Brimmer), an independent day school serving students in pre-kindergarten through grade 12. Brimmer will use proceeds to demolish

Brady Capital Advisors, LLC arranges $29.1 million acquisition and renovation financing for Shawomet Gardens

Somerset, MA Brady Capital Advisors, LLC (BCA) has arranged and facilitated $29.1 million in acquisition and renovation financing for Shawomet Gardens, a 240-unit residential portfolio located on 12.46 acres at 102 Shawomet Ave.

525 LINC secures $58 million refinance
loan - funded by Aareal Bank

Allston, MA FAM Asset Management, Arx Urban, and Boylston Properties, closed on a $58 million loan from Aareal Bank to refinance 525 LINC, a coliving development that opened its doors in January 2024. 525 LINC includes 80 coliving suites and studios, equaling 279 rentable bedrooms, in a mix of studios, 3- and 4-bedroom suites.

Guilford Savings Bank and Eastern Connecticut Savings Bank plan to merge

Norwich, CT Guilford Savings Bank (GSB) and Eastern Connecticut Savings Bank intend to merge, combining two organizations with deep roots in the Connecticut communities they serve. This partnership, approved unanimously by both boards, will create a bank with $1.4 billion in combined assets and 25,000 clients.

Greystone consults on $303 million Freddie Mac Q-Series securitization for Webster Bank

Boston, MA Greystone, a leading national commercial real estate finance company, has assisted Webster Bank N.A. in completing a $303 million Freddie Mac Q-Series securitization. The transaction was collateralized by 19 loans, secured by 31 properties with a total of 1,236 units, all located on the East Coast.

Worth Avenue Capital, LLC arranges $1 million real estate development loan

Montville, CT Worth Avenue Capital, LLC (WAC) has closed a $1 million real estate development loan towards the construction of a new 22-unit condominium complex. This loan was funded as a “follow on” construction line of credit after the initial $2.5 million construction loan

Newmark arranges sale and financing of 2 Executive Dr. for Rhino Capital

Chelmsford, MA Newmark has secured the $14.5 million sale of 2 Executive Dr., an R&D/office/lab building. Newmark co-head of U.S. capital markets Robert Griffin and Newmark’s Boston Capital Markets group executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,

Property rights and short-term rentals – impact on value - by Marc Nadeau

Inherent in the fee simple ownership of real estate is something that is commonly referred to as the “Bundle of Rights.” The Bundle of Rights is in effect the exclusive right, use and disposition of the property that belong to the property owner. Inherent within the Bundle of Rights can be the right to sell, the right to mortgage, the right to occupy,

Campanelli of Needham Bank leads panel on Italian Excellence in Business at the Festival of Italian Creativity

Needham, MA Joseph Campanelli, chairman, president, and CEO of Needham Bank, hosted a panel discussion as part of the Festival of Italian Creativity. The panel, The Italian Influence on Successful Businesses, was scheduled for Thursday, November 21st, at 10:15 a.m. at the Consulate General of Italy in Boston in the Federal Reserve Building

Real Estate Finance Association hosts Year-End Celebration and Holiday Party

Boston, MA The Real Estate Finance Association (REFA) hosted its Annual Year-End Celebration and Holiday Party on Monday, November 25th at Central Wharf Co. Members had the chance to network with colleagues and friends and reflect on another successful year. REFA members and mentees also gathered