Financial Digest
Preservation of Affordable Housing secures $23.5 million
in financing from Rockland Trust and Citizens Bank
Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.Cambridge Savings Bank opens new branch at 734 Dudley St. in Dorchester, MA
Dorchester, MA Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $7 billion in assets, has opened its newest branch. The official opening of the new branch at 734 Dudley St. marks the bank’s expansion to 19 physical locations across the region.Rodolfy joins Eastern Bank as sr. vice president, commercial real estate relationship manager
Boston, MA Eastern Bank welcomes Joseph Rodolfy as a senior vice president, commercial real estate relationship manager. Rodolfy brings over 13 years of banking experience with a focus on commercial real estate and credit analysis.JLL secures $92 million in financing for
Fordham Park Robotic and Logistics site
Wilmington, MA JLL Capital Markets secured $92 million in financing for Fordham Park Robotic and Logistics Campus, a three-building robotics, R&D and distribution park.Don’t miss a moment: REFA’s summer scene
Amidst the recent interest rate volatility, Matthew Fazio and Michael Roper, managing directors with Kensington Capital Advisors, provided an introduction to interest rate hedging and derivative products on June 3rd. The webinar discussed the current underlying economic conditions that are creating the recent interest rate volatility and reviewed the derivative products available to actively manage that interest rate risk.
Merchants Capital secures $56.5m for 152-unit affordable housing development - developed by The BLVD Group
Woonsocket, RI Leading financial services provider Merchants Capital secured $56.5 million in debt and tax credit equity financing for the acquisition of Rock Ridge Apartments, a 152-unit multifamily housing development developed by The BLVD Group (BLVD).Trinity Financial arranges CHFA award of federal tax credits for Windsor Locks transit-oriented development project
Windsor Locks, CT A major milestone has been reached in the effort to revitalize downtown. Trinity Financial has secured $1.46 million in 9% Low-Income Housing Tax Credits (LIHTC) from the Connecticut Housing Finance Authority (CHFA) to fund the first phase of a transformative transit-orientedJLL arranges $650 million refinancing for One Congress on behalf of Carr Properties and National Real Estate Advisors
Boston, MA JLL’s Capital Markets group has arranged a $650 million refinancing for One Congress, a recently delivered, trophy office building totaling 1.008 million s/f.MountainOne promotes Row, Belanger, Bishop, Ray, Shepard and Bloom
North Adams, MA MountainOne has promoted six employees to officer roles. The promotions include the following:• Heather Row, vice president, commercial portfolio manager - Row’s extensive knowledge of underwriting, particularly in commercial and industrial exposures, has been essential to managing risk and expanding the bank’s portfolio.