Financial Digest

Tropp of Eastern Union arranges $13.297 million financing for ground-up construction of a self-storage facility

Worcester, MA Marc Tropp, a senior managing director with Eastern Union, has secured $13.297 million in financing toward the ground-up construction of a four-story, 931-unit, self-storage facility at 80 Barber Ave.

Staiti promoted to senior vice president, regional executive for commercial banking at Rockland Trust

Worcester, MA According to Rockland Trust, Peter Staiti has been promoted to the position of senior vice president, regional executive for commercial banking. In this new role, Staiti will be responsible for leading and managing a team of experienced commercial banking professionals across Worcester County and Central Massachusetts.

The Village Bank awards 18 scholarships to Class of 2024 students

Newton, MA According to Joseph A. De Vito, president and CEO of The Village Bank, the Auburndale Community Charitable Foundation has awarded scholarships totaling $52,000 to 18 local students.

Colliers arranges $11 million in financing for Tremont Asset Management LLC

Boston, MA Colliers has arranged $11 million in financing for two multifamily properties on behalf of Tremont Asset Management, LLC, a real estate investment and management company that with affiliates has a portfolio of over 3,500 class A apartments

Rockland Trust appoints Reilly as vice president

Methuen, MA Rockland Trust has appointed Chris Reilly as vice president and commercial banking officer for the bank’s growing North of Boston team. In this role, Reilly will build relationships with mid-size companies across Northern Massachusetts and Southern New Hampshire.

Real Estate Finance Association hosts charitable golf and tennis tournament on July 29th at Woodland Golf Club

Boston, MA REFA hosted its 2024 charitable golf and tennis tournament on Monday, July 29th.  In rain and sun, 124 golfers and 13 tennis players gathered for an exciting afternoon at Woodland Golf Club that included a golf tournament, tennis tournament

Cronheim Mortgage secures $24 million financing for Avon Marketplace - a 78,687 s/f lifestyle shopping center

Avon, CT Cronheim Mortgage has secured $24 million in permanent financing for Avon Marketplace, a 78,687 s/f lifestyle shopping center on 17.29 acres. Dev Morris, Andrew Stewart, and Allison Villamagna placed the five-year loan with a portfolio lender

MassDevelopment issues $17m bond on behalf of 733 Broadway, affiliate of Tremont Development Partners

Lowell, MA MassDevelopment has issued a $17 million tax-exempt bond on behalf of 733 Broadway LLC, an affiliate of Tremont Development Partners LLC (Tremont). The company will use bond proceeds to build a four-story, 52-unit affordable rental housing facility

Real Estate Finance Association jumps into summer with golf and tennis tournament

Boston, MA REFA’s DEI Committee hosted its first panel on June 18th, Capital Conversations: Navigating Wealth Creation, Equity, and Real Estate Investment at Nutter, 155 Seaport Blvd. The session showcased speakers: Onay Payne, senior managing director at Manulife Investment Management;

Colliers closes $62 million refinancing for 230-unit Addison apartment community - CrossHarbor Capital Partners provides refinancing

East Boston, MA Colliers Capital Markets has arranged a $62 million refinancing for Addison, an apartment community comprising 230 units. A Colliers team led by executive vice president & national debt & equity platform leader Jeffrey Black, vice presidents Bryan Koop and Sean Burke, co-chairman Kevin Phelan and financial analyst Matthew Lombardi