Financial Digest

MassDevelopment issues $18 million bond to New England Historic Genealogical Society to expand facility

Boston, MA MassDevelopment has issued an $18 million tax-exempt bond on behalf of New England Historic Genealogical Society (NEHGS), also known as American Ancestors, which will use proceeds to expand its facility on Newbury St. to add a Visitor Complex and make other improvements. NEHGS will reconstruct and expand a vacant building at 97 Newbury St., and connect

Cornerstone Realty Capital arranges $8.125 million in financing

Bourne, MA Cornerstone Realty Capital has arranged $8.125 million in financing for the acquisition and renovation of a residential apartment complex. The property sits on a 4.03-acre parcel and is comprised of four 10-unit apartment buildings

Walsh of EagleBridge Capital arranges $15 million financing
for 31 property multifamily portfolio

Boston, MA EagleBridge Capital has arranged permanent mortgage financing in the amount of $15 million for a diverse multifamily portfolio located in Southern New England.

Merkle to retire from Union Savings Bank - Reyes to take over as president and CEO

Danbury, CT According to the Union Savings Bank board of trustees, Cynthia Merkle is retiring as CEO of the community bank effective later this month. Current president Chelen Reyes has been elected to serve as both president and CEO.

Groblewski and Monahan of Fantini & Gorga
arrange $10.085m financing

Needham, MA Fantini & Gorga has arranged $10.085 million in acquisition financing on behalf of its client, Union Station LP (USLP), an affiliate of a leading retail investment and management family office based in Greater Boston.

Rockland Trust hires Weinberg as senior vice president, lending center manager in Peabody

Peabody, MA Rockland Trust has expanded its local commercial lending team with the appointment of Ryan Weinberg, Esq., to senior vice president, commercial lending center manager. In this role, Weinberg will be leading a team of lenders specializing in commercial real estate

Rockland Trust provides $4 million in financing for the Greendale Revitalization Initiative

Worcester, MA New Garden Park, Inc., a subsidiary of the Worcester Business Development Corp. (WBDC), secured $4 million in financing from Rockland Trust for the initial phases of the Greendale Revitalization Initiative.

Maugel DeStefano Architects designs new bank branch for Milford Federal Bank

Milford, MA Maugel DeStefano Architects has begun construction on a new Milford Federal Bank branch located at 67 Medway Rd. Sited on the high visibility corner of Medway and Branch Sts., the ground-up construction features a large open concept public banking area with exposed structure, individual banking pods

Worth Avenue Capital, LLC closes two loans totaling $1.125 million

Westport, CT Worth Avenue Capital, LLC (WAC) closed a $300,000 commercial loan for a Connecticut-based real estate developer. The loan proceeds will be used for working capital purposes for his various real estate projects that are evolving.

The Real Estate Finance Association’s Charitable Golf Tournament and summer panel & reception

Boston, MA The REFA Charitable Golf & Tennis Tournament was postponed due to heavy rain and is rescheduled for Monday, August 28th at De...