Fantini & Gorga arranges $5 million in financing for
multifamily property in the Allston neighborhood

Boston, MA Fantini & Gorga arranged a $5 million first mortgage for a multifamily property in the Allston neighborhood. The non-recourse loan was placed with a local bank on behalf of the sponsor, Glen One LLC,

The Village Bank promotes Franklin, Werner and others

Newton, MA At The Village Bank’s annual meeting held earlier this month, president and CEO Joseph De Vito released the following officer promotions: Andy Franklin was promoted to executive vice president/chief lending officer. Franklin will continue to manage the strategic direction of all commercial, residential and consumer lending activities

Commercial real estate: Not bottomed yet - by Daniel Calano

The commercial real estate market is seriously troubled, and relief is not in view. That said, not all commercial is the same. The broad group of commercial property includes many groups from multifamily housing, to retail, to self-storage and warehousing. Not all commercial is in the same boat. The best is multi-family. The worst case is office, and even this, can be parsed to include class A new buildings, to older deteriorated ones.

MassDevelopment issues $129m tax-exempt bond to 2Life Opus to build 174-apartment community for middle-income seniors

Newton, MA MassDevelopment has issued a $129 million tax-exempt bond on behalf of 2Life Opus Newton LLC, an affiliate of 2Life Communities Inc., which is using proceeds to purchase four acres of land at 777 Winchester St. and build a 174-apartment senior living community for individuals aged 62 and older. Dubbed Opus Newton, the community will offer gathering spaces including a library, café, business center, game room

REFA is heating up for summer

Boston, MA REFA held its Annual Past President Luncheon on Monday, May 22^nd. The gathering brings together the current president, Nilesh Bubna, Longpoint Realty Partners, and all past presidents to network, learn what REFA has accomplished the past year

EagleBridge Capital arranges $22m construction/permanent financing

Redding, CT EagleBridge Capital has arranged construction/permanent mortgage financing in the amount of $22 milllion for a new self-storage facility property under construction. The mortgage financing was arranged by EagleBridge senior director Brian Walsh who said that the loan was provided by a major national bank.

Cornerstone Realty Capital arranges $3.47m Eagle Hill development

East Boston, MA Cornerstone Realty Capital arranged $3.47 million in financing for the acquisition and construction of a residential condominium development. The development will feature 6 condominiums, a mix of (1) two-bedroom, two-bathroom, (1) three-bedroom, two-bathroom, (3) three-bedroom, two and a half bath, and (1) three-bedroom, four-bathroom. Units will range from 1,010 s/f to 1,597 s/f.

MA-RI-ME Chapter of the Appraisal Institute hosts ATB program

Boston, MA The MA-RI-ME Chapter of the Appraisal Institute would like to thank all the panelists and other participants involved in our program “Appraising for the Appellate Tax Board – Expanding Your Scope of Work Services” held on May 3, 2023 at the Hilton Boston / Dedham Hotel. The program attracted approximately 120 attendees, making it one of the largest events organized by the Appraisal Institute Chapter in several years.

MacPherson of Penobscot Investment named shareholder and elected director

Boston, MA Penobscot Investment Management has named Colleen MacPherson, CFA, CDFA shareholder and has been elected a director of the company. She will continue to oversee the firm’s research efforts to identify opportunities in equities, fixed income, and other asset classes while continuing to service clients as portfolio manager. 

Marcone Capital arranges $25 million financing for Dedham Executive Center

Dedham, MA Mike Marcone of Marcone Capital, Inc. has arranged $25 million in financing of Dedham Executive Center, a 180,789 s/f office building centrally located at 980 & 990 Washington St. Dedham Executive Center sits on a 2.76 acre campus and includes a three-level parking garage with direct building access, a large full service cafeteria, outdoor patio, conference center, two lobby areas, game room, fitness center, and a window line.