Financial Digest

Sidel of EagleBridge Capital arranges $4.23 million financing for 45,000 s/f office building at 44 Bearfoot Rd.

Northborough, MA EagleBridge Capital, has arranged acquisition/permanent mortgage financing in the amount of $4.23 million for 44 Bearfoot Rd. The mortgage financing was arranged by EagleBridge principal Ted Sidel who stated that the loan was provided by a leading regional financial institution. 44 Bearfoot Rd. is a three-story, 45,000 s/f, multi-tenant, building situated on a 6.5 acre site with parking for 212 vehicles.

MassDevelopment president and CEO Liss to step down at end of the year

Boston, MA According to MassDevelopment, after three years as president and CEO, Lauren Liss will step down from this position at the end of the calendar year. Housing and economic development secretary Mike Kennealy, who serves as chairman of the board of directors of MassDevelopment, will lead the search for the next head of the state’s finance and development agency.

JLL Capital Markets arranges $24 million in acquisition financing

strong>Somerville, MA JLL Capital Markets has arranged the $48 million sale and $24 million in acquisition financing for two contiguous properties, including a 1.2-acre development site and the leasehold interest in a 252-space parking garage in a Qualified Opportunity Zone. JLL marketed the property on behalf of several private sellers for the land and a private owner on the leasehold interest.

Arbor Realty Trust places $14.6 million in two deals

Boston, MA Arbor Realty Trust, Inc., a leading multifamily and commercial mortgage lender, recently closed several transactions across the U.S. Some of the details of the transactions are below:  • Austin Heights in Waterbury, Conn., received $4.6 million with a 22-year term. The low-income housing complex includes one, two, three and four-bedroom options.

The Real Estate Finance Association hosted its virtual 32nd Annual Gala on October 19th

Boston, MA Over 250 REFA members and friends “gathered” to celebrate REFA’s Virtual 32nd Annual Gala on Monday, October 19th, honoring Tammy Jones, co-founder and CEO, Basis Investment Group and Kirk Sykes, co-managing partner, Accordia Partners. The event featured a “Fireside Chat” with the honorees to learn more about their lives, careers, and leadership in the commercial real estate industry.

Richard Ashworth of Ashworth Mortgage passes away at age 76

Dedham, MA Richard Ashworth, age 76, of Dedham, formerly of Needham and Newton, passed away on Sunday, September 27. Richard was with Ashworth Mortgage, a long time New England Real Estate Journal advertiser and financier of commercial real estate.

Cornerstone Realty Capital arranges $13.6 million financing

Manchester, NH Cornerstone Realty Capital arranged $13.6 million in financing for the refinance of a portfolio of multifamily and mixed-use properties located throughout the city. The portfolio, compromising 242 units spread across 10 buildings, has a mix of 47 studio units, 85 one-bedroom units,

Washington Trust provides $21 million to Readco Capital Advisors, LLC for the redevelopment of former Toys R Us building

Waterford, CT Washington Trust’s Commercial Real Estate Group has provided $21 million to Readco Capital Advisors, LLC for the acquisition and re-development of the former Toys R Us building located on Dayton Rd. Readco Capital Advisors arranged a 15-year lease with Hartford Healthcare

Rockport Mortgage places an FHA Section 223(f) refinancing loan totaling $32.8 million for Mountain View Terrace Apartments

Stoneham, MA Rockport Mortgage Corp. completed the closing of an FHA Section 223(f) refinancing loan totaling $32.8 million for Mountain View Terrace Apartments. The 194-unit property consists of one and two-bedroom apartments for elderly residents and smaller families, as well as three

Spiegel Associates arranges $30 million loan for Stockbridge Landing

Scituate, MA Sidney Spiegel of Spiegel Associates has arranged a $30 million acquisition and construction loan for Stockbridge Landing on Stockbridge Rd. The loan was funded by a regional bank