Boston, MA The Real Estate Finance Association wrapped up its 2020 Mentorship Program on November 19
th. The mentor/mentee pairs meet regularly throughout the year, giving mentees the opportunity to gain knowledge from seasoned members of the industry.
Newburyport, MA According to Rockland Trust, they partnered with Newburyport Bank to provide a $19.3 million loan to MINCO Development for the financing of their One Boston Way development. One Boston Way is a true transit-oriented development.
Portland, ME Colliers International Group Inc. has arranged $17 million in construction financing for a mixed-use development. The Colliers team of executive vice president Jeff Black and assistant vice presidents Sean Burke and Bryan Koop, was selected by The Procopio Companies to exclusively source funds for the
Boston, MA Allianz Real Estate has provided $150 million financing for 265 Franklin St. in downtown, according to reports. The 21-story building is owned by a joint venture of Clarendon Properties and a fund managed by BlackRock. Located in the city’s Financial District, the building offers multi-tenant and full-floor floorplates. The office spans 350,534 s/f
Dover, NH Fantini & Gorga has finallized the placement of two loans totaling $10.8 million for two separate properties. One new, 32-unit luxury apartment property with 9,000 s/f of retail along the Cocheco River, the other a truly mixed-use retail, office and apartment property.
Boston, MA Rockport Mortgage Corp. completed the closing of an FHA Section 223(f) refinancing loan totaling $81.8 million for the South Cove Plaza Community, a 231-unit housing development for the elderly and disabled constructed in 1982. Owned and managed by Weston Associates, the development consists of two parcels, each containing a single mixed-use, mid-rise building. One of the parcels is on Tremont St., the other on Stuart St.
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.
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.
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.
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.
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