Financial Digest

Nazdin of KeyBank Real Estate Capital originates $12.2 million Fannie Mae first mortgage loan

Leominster, MA KeyBank Real Estate Capital has originated a $12.2 million Fannie Mae, first mortgage loan for Sunrise of Leominster. Built in 1996, the property is comprised of one, three-story, 70-unit building situated on five acres.

HFF closes sale and financing for The Veranda House Hotel Collection

Nantucket, MA Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale and arranged acquisition financing for The Veranda House Hotel Collection, two adjacent boutique hotel properties totaling 29 guest rooms. HFF represented the private sellers in the sale of the properties to affiliates of Procaccianti Companies.

Kelly of CBRE secures $62 million in financing for Hedge Capital

Boston, MA The CBRE Capital Markets team has secured $62 million in financing for the recapitalization of a 19-building apartment portfolio located in Boston and Lynn, Mass. The assets consist of well-managed workforce housing with a combination of both market-rate and affordable apartments.

Worth Avenue Capital, LLC closes $275,000 loan to a CT-based developer

Manchester, CT Worth Avenue Capital, LLC (WAC) closed a $275,000 loan to a CT- based real estate developer. The loan proceeds will be used to begin to develop a large piece of commercial real estate.

Hunt Capital Holdings acquires Peak 8 Asset Management

Greenwich, CT Hunt Capital Holdings has acquired Peak 8 Asset Management. Peak 8’s investment professionals, including its president, David Moran, will remain employed by the firm. 

Real Estate Finance Association names 2019 annual gala honoree: Davis of The Davis Cos.

Boston, MA The Real Estate Finance Association (REFA) has named Jonathan Davis, founder and CEO of The Davis Companies, as the 2019 annual REFA gala honoree. As the 31st recipient of the Swain Award, Davis joins a list of award honorees, all of whom have made outstanding contributions to the Greater Boston community

Spiegel of Spiegel Associates places $3.28 million loan for mixed-use building

Mattapan, MA Sidney Spiegel of Spiegel Associates arranged a $3.28 million loan for a mixed-use property. The loan was funded by a regional bank that saw the value of the property to the community.

Coulombe, O’Donnnell and Hixon of Fantini & Gorga place $28.35m construction loan for mixed-use development

Cambridge, MA Fantini & Gorga has arranged a $28.35 million construction loan for a well located, transit-oriented, mixed-use development featuring 46 residential condominiums, ground floor amenity retail and underground parking adjacent to the historic St. James Episcopal Church in Porter Sq.

Ranieri of NorthMarq’s White Plains office arranges $25.5m refinance of 486-unit Pebblebrook Apartments, New Britain, CT

New Britain, CT Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains-based regional office, secured the $25.5 million refinance of Pebblebrook Apartments, a 486-unit multifamily property located on Brittany Farms Rd. 

Colliers Boston Capital Markets closes $16 million in acquisition financing for 10 Carematrix in Dedham

Dedham, MA Colliers Boston Capital Markets team has arranged acquisition/rehab financing for a healthcare rehabilitation center located at 10 Carematrix Dr. The 63,000 s/f  healthcare center was purchased by GFI Partners, a Boston-based investor/developer, and their partner, Walden Behavioral Care.