Financial Digest

SBA releases PPP Loan Forgiveness Application - Key takeaways from Hinckley Allen

On May 15th, the Small Business Administration (SBA) released the much-awaited Paycheck Protection Program (PPP) loan forgiveness application and instructions (SBA Form 3508). While the 11-page SBA Form 3508 provides answers

Sidel of EagleBridge Capital arranges $9 million financing for 40,500 s/f office at 33 Broad St.

Boston, MA EagleBridge Capital has arranged permanent mortgage financing in the amount of $9 million for 33 Broad St. The mortgage financing was arranged by EagleBridge principal Ted Sidel, who stated that the loan was provided by a leading regional financial institution.

HKS Real Estate arranges $24.5 million construction loan with M&T Bank for the development of a six-story, 149-unit building

Danbury, CT HKS Real Estate Advisors has arranged a $24.5 million construction loan with M&T Bank for the development of a six-story, 149 multi-residential unit building called Brookview Commons to be built

Hunt Real Estate Capital provides a $13.2 million Fannie Mae DUS loan

Boston, MA Hunt Real Estate Capital has provided a Fannie Mae conventional loan in the amount of $13.2 million to finance the acquisition of a multifamily property. The property, 16 Westland Ave. Apartments, is a 55-unit, mid-rise apartment community that was built in 1910 and is comprised of 19 efficiency units

Cornerstone Realty Capital arranges $38.2 million for multifamily portfolio

Medford, MA Cornerstone Realty Capital arranged $38.2 million in financing for the refinance of a portfolio of apartment properties located throughout Malden and Medford. The portfolio, comprising 265 units spread across nine buildings

MassHousing closes on $2.8 million in financing for workforce housing to The Community Builders

Northampton, MA MassHousing has closed on $2.8 million in affordable workforce housing financing to The Community Builders (TCB) for the ongoing construction of the 12-unit 35 Village Hill Rd. Valley Community Development Corp. is the project co-sponsor.

The Real Estate Finance Association update – Keeping members engaged at home

Boston, MA Two months into the work from home mandate, the Real Estate Finance Association (REFA) continues to work hard to create valuable virtual content for its membership during this time to keep its membership engaged.

Black, Burke and Koop of Colliers handle $48 million financing for The Woodlands Apartments

Middleborough, MA Colliers International’s executive vice president Jeff Black and assistant vice presidents Sean Burke and Bryan Koop of its Capital Markets team arranged $48 million

Berkadia secures $211.25 million refinancing for Hancock Village

Chestnut Hill, MA Berkadia has secured financing for Hancock Village, a townhome community. Managing director Robert Lipson of Berkadia’s Shrewsbury, N.J. office secured the $211.25 million

Rockport Mortgage closes $42.7m in financing for Melville Towers owned by Affordable Housing & Services Collab.

New Bedford, MA Rockport Mortgage Corp. has closed an FHA Section 223(f) refinancing loan totaling $42.7 million for Melville Towers, an elderly apartment complex located at 850 Pleasant St.