Financial Digest

Real Estate Finance Association named its board of directors for 2020 - Piper of Webster Bank named president

Boston, MA The Real Estate Finance Association (REFA) has named its board of directors for 2020. Claudia Piper, senior vice president, Webster Bank, will serve as president along with president-elect, Bill Flynn, senior vice president at Net Lease Capital Advisors.

KeyBank Real Estate Capital provides $54.8 million of Fannie Mae financing to Bluerock

Franklin, MA KeyBank Real Estate Capital (KBREC) provided $54.8 million of Fannie Mae financing to Bluerock, a commercial and residential real estate company based in New York, to acquire a multifamily property

Citizens Commercial Banking provides $75 million construction loan to Haymarket Parcel 9 Investors, LLC

Boston, MA Citizens Commercial Banking’s Commercial Real Estate Finance team provided a $75 million loan to Haymarket Parcel 9 Investors, LLC, whose sponsors are Boston-based CV Properties, New York-based Olshan Properties

Liddy of Kelleher & Sadowsky arranges $15 million in refinancing for a 450,000 s/f industrial property on behalf of Rabina Properties

Auburn, MA Kelleher & Sadowsky Associates has arranged refinancing of the industrial warehouse property at 28 Millbury St. in the amount of $15 million on behalf of Rabina Properties. Meghan Liddy, senior vice

Berkadia arranges $49.7 million in acquisition financing for Riverbend on the Charles

Watertown, MA Berkadia has arranged $49.7 million in acquisition financing for Riverbend on the Charles, a 170-unit multifamily community. Built in 2014, the property is located at 270 Pleasant St. and consists

Washington Trust provides $15.4 million in financing

Norwood, MA Washington Trust’s Commercial Real Estate Group provided $15.4 million to a Massachusetts-based developer for the acquisition of a 130,000 s/f office building. Located at the intersection of Rte. 1

Cornerstone Realty Capital handles $5.6 million refinancing

Southbridge, MA Cornerstone Realty Capital arranged $5.6 million in financing for Laurel Ridge Apartments. The apartment complex features 58 units, a mix of five studios, 26 one-bedroom, one-bathroom units and 27 two-bedroom

Bridgewater Savings Bank and Mansfield Bank plan to merge

Bridgewater, MA According to Bridgewater Savings Bank and Mansfield Bank, after months of discussion and due diligence, the boards of directors of both banks have signed a Merger Agreement to join the two banks into a single

Hunt Real Estate Capital handles $9.9m multifamily loan to Serone

Charlestown, MA Hunt Real Estate Capital provided a Fannie Mae conventional multifamily loan in the amount of $9.9 million to finance the acquisition of a multifamily property. Navy Yard Apartments is a 47-unit, garden-style apartment community

Country Bank provides $2.7m financing to Worcester Business Development Corp.

Worcester, MA The Worcester Business Development Corp. (WBDC) has secured a $2.7 million financing deal to keep the momentum at The Reactory rolling. Looking for a local bank that understands the project and the benefits it will bring to the city, the WBDC turned to Ware-based Country Bank.