Financial Digest

Eastern Bank adds Done Right Building Facility Services as commercial customer

Boston, MA According to Eastern Bank, Done Right Building Services, Inc. (DRB Facility Services) is a new commercial customer of the bank.  The team advising DRB Facility Services includes executive vice president, senior commercial banking officer Greg Buscone, senior vice president and commercial group director Dan Field, and senior vice president and commercial team leader James Murphy.

Army of The Foster Company earns MAI designation from the Appraisal Institute

Leominster, MA According to The Foster Company, Inc., Francis Army has achieved the MAI designation from the Appraisal Institute.  Allan Foster, president of The Foster Company said, “Frank has been a tremendous addition to our firm as an appraiser and in helping to manage the business.

Appraisal modernization and appraisal trends - by William Pastuszek

Appraisals, appraisers, and the appraisal process have received much scrutiny over the past couple of years. This is particularly so in the residential sector, where the appraisal community has entertained much attention from housing and anti-discrimination advocates. This movement includes questions and concerns about the structure and regulation of the appraisal industry.

Challenges of the appraisal profession - by John Nitz

Over the years, it is no secret that real estate appraisers have faced many challenges within their profession. In this article, I will discuss some of my own professional challenges over the past 37 years. Some of these challenges include completing the educational requirements, submitting appraisal reports on time, finding qualified help, appraising complex property types, and collecting fees from clients.

Pinning down development variables: Increasingly impossible? - Daniel Calano

I was talking to a mid-size company developer client recently, and asked what I thought was a routine question: What was his next project? Instead of the usual description, he said there was none. He was retiring. The variables in development were too many and too unclear. The risks were simply too high.

2023 promises a lot - by Brett Pelletier

What that is, exactly, I’m not sure. I don’t make predictions and I don’t do forecasts. I leave that to the economists and the fortune tellers.

The Real Estate Finance Association teams up with Breaktime and FamilyAid Boston

Boston, MA The Real Estate Finance Association has selected Breaktime and FamilyAid Boston has their charitable partners for a three-year partnership! Breaktime and FamilyAid will be the designated charities of REFA’s signature events, including the Charitable Golf & Tennis Tournament, Gala, Programs, and community service activities.

MassHousing closes $31 million affordable housing financing to CSI Support & Development Services

Charlestown, MA MassHousing has closed on $31 million in affordable housing financing to CSI Support & Development Services for the refinancing, renovation and extension of affordability of City Square Elderly Housing.

Seven tax essentials that every commercial property owner should know in 2023 - by Bill Cusato

With year-end comes the pleasure of tax preparation, but every year the rules are certain to change. Will you have enough losses to cover your tax liability, or heaven forbid, will you be writing a large check? Commercial property owners have a number of extremely lucrative tools at their disposal - would any of the seven following strategies work for you?

Cornerstone Realty Capital arranges $74.3 million in financing for two properties

Boston, MA Cornerstone Realty Capital arranged $15.8 million for the refinance of a 47-unit apartment property located in the Fenway neighborhood of the city.  The property consists of a single, four-story apartment building and contains a mix of studios, one-bedroom, two-bedroom, and three-bedroom units.