Financial Digest

Surprenant of Goedecke arranges $44m in financing for 121 First - People’s United Bank provides financing to Urban Spaces

Cambridge, MA Urban Spaces, a Cambridge-based commercial real estate development company, has finalized $44 million in permanent financing from People’s United Bank for 121 First, a 60,000 s/f mixed-use office property fully pre-leased to CarGurus

Cornerstone Realty Capital arranges $14.3m for True North Capital Ptrs.

Braintree, MA Cornerstone Realty Capital has arranged $14.3 million in financing for True North Capital Partners for a 72-unit apartment complex. Paul Natalizio, president at Cornerstone led the financing for the property.

Citizens Banks’s community development group provides $26 million construction financing

East Boston, MA According to Citizens Bank, its community development group has provided $26 million in construction financing to Trinity Or...

Worth Avenue Capital, LLC closes $125,000 loan to a Relais & Chateau branded hotel

Mystic, CT Worth Avenue Capital, LLC (WAC) closed a $125,000 loan to a Relais & Chateau branded boutique hotel. The hotel is an existing WAC borrower and this loan was completed as a follow-on transaction in which the loan proceeds were used by the borrower as a partial payment

Manzi named national brokerage leader at Risk Strategies

Boston, MA Risk Strategies, a privately held insurance brokerage and risk management firm, has appointed Mark Manzi as nation...

Spiegel Associates arranges $4.305 million loan for office building purchase - funded by a regional bank

Jamaica Plain, MA Sidney Spiegel of Spiegel Associates arranged a $4.305 million loan for an office property. The loan was funded by a regional bank that saw the value of the property to the community. The property, located at 31 Heath St.

Haverhill Bank promotes four to management posts

Haverhill, MA Haverhill Bank recently promoted four staff to management positions. Duncan Clark was promoted to vice president, retail branc...

MassDevelopment issues a $1 million loan to Worcester Community Action Council, Inc. for Head Start program

Webster, MA MassDevelopment has issued a $1 million loan to the Worcester Community Action Council, Inc. (WCAC), an agency that offers a wide range of education, employment, and social service programs throughout 45 communities in Central Mass.

Real Estate Finance Association selects 2019 board of directors - D'Amato named president

Boston, MA The Real Estate Finance Association (REFA) has named its board of directors for 2019. Travis D’Amato, senior vice president and managing director, Walker & Dunlop, will serve as president along with president-elect Claudia Piper, senior vice president at Webster Bank.

KeyBank Real Estate Capital arranges $31.5 million Freddie Mac loan with Chicago Pacific Founders and its affiliate CPF Living Communities

Topsham, ME KeyBank Real Estate Capital has arranged a $31.5 million Freddie Mac loan with Chicago Pacific Founders and its affiliate CPF Living Communities (CPF Living) for their Highlands Retirement Community. The loan proceeds were used to refinance an existing KeyBank balance sheet