Financial Digest

Cambridge Savings Bank provides $84.5m in construction loans to Strategic Land Ventures

Cambridge, MA Cambridge Savings Bank (CSB) has provided construction loans totaling $84.5 million to Strategic Land Ventures (SLV), a vertically integrated real estate investment management and development firm.

REFA gets ready for first in-person Gala since 2019, honoring Paul Ayoub of Nutter

Boston, MA The Real Estate Finance Association’s (REFA) members are invited to an exclusive property tour of NEMA Boston on Wednesday, September 21st. NEMA Boston is a best-in-class, 2019 vintage, LEED Silver,

Lucitt named vice president of commercial lending at Bank of Canton

Canton, MA Stephen Lucitt has joined Bank of Canton as vice president of commercial lending. Throughout his lending career of more than 30 years, Lucitt has earned accolades for his ability to develop loan portfolios, establish credit policy, and build successful business relationships.

Fantini & Gorga places $23.04 million for mixed-income apartments in Portland, ME

Portland, ME Fantini & Gorga has placed $23.04 million in permanent financing for Danforth Heights, a 166-unit mixed-income multifamily apartment complex located between the city’s historic district and waterfront. The loan was placed with Fantini & Gorga’s correspondent, Eastern Mortgage Capital, a national MAP Lender

Sidel of EagleBridge Capital arranges $20.7 million debt and equity financing

Andover, MA EagleBridge Capital has arranged mortgage and JV equity financing in the amount of $20.7 million for 3 Riverside Dr., an R&D building. The financing was arranged by EagleBridge principal, Ted Sidel. 3 Riverside Dr. is a 93,500 s/f two story R&D building

JLL arranges $585 million construction financing for King Street Properties, Brookfield and Mugar Enterprises joint venture

Boston, MA JLL’s Capital Markets group arranged $585 million in construction financing for a mixed-use project consisting of 580,905 s/f of life sciences, retail and multi-housing space.

Rockland Trust provides $4.5m acquisition financing to Hajjar Mgmt.

Salem, MA Hajjar Management Co., Inc. secured $4.5 million from Rockland Trust for the acquisition of the historic inn, The Merchant. Hajjar has a long-standing reputation for developing and managing successful commercial and residential properties in New England.

East Cambridge Savings Bank and Patriot Community Bank officially complete merger

Cambridge, MA East Cambridge Savings Bank has completed the acquisition of Woburn-based Patriot Community Bank, effective August 1st. East Cambridge Savings Bank will continue to operate the former Patriot Community Bank location at 237 Lexington St.

Worth Avenue Capital closes $1.35 million commercial loan

Greenwich, CT Worth Avenue Capital, LLC (WAC) closed a $1.35 million commercial loan to a real estate investor for the purpose of purchasing a commercial condominium in Greenwich. This real estate investor is one of WAC’s existing borrowers

Welch rejoins Eastern Bank as senior VP

Boston, MA According to Eastern Bank, Brian Welch has rejoined the organization as senior vice president, team leader in the commercial real estate division. Welch’s career spans roles in commercial real estate lending with a range of clients