Financial Digest

Coulombe of Fantini & Gorga completes $5.5 million permanent loan for a mixed-use Newbury St. property

Boston, MA Fantini & Gorga has completed the placement of a $5.5 million permanent loan for a mixed-use Newbury St. property.  Derek Coulombe, senior managing director at Fantini & Gorga structured and placed the financing with a regional bank

Eagle Rock Properties secures $323 million in financing for a 1,314-unit portfolio in MA & NH

Framingham, MA New York-based Eagle Rock Properties has secured $323 million in financing for a 1,314-unit portfolio of five multifamily properties located in MA and NH.  The properties are situated in Framingham, Swampscott and Brighton, Mass. and in Nashua, NH.

MassDevelopment, Eastern Bank and Rockland Trust issue $19.64 million bond to 120 Washington 4 LLC

Worcester, MA MassDevelopment has issued a $19.64 million tax-exempt bond on behalf of 120 Washington 4 LLC, an affiliate of Boston Capital Development, LLC, which will use proceeds to construct 59 units of mixed-income affordable rental housing at the site of the former headquarters of Table Talk Pies at 120 Washington St.

REFA names its board of directors for 2023

Boston, MA The Real Estate Finance Association (REFA) has named its board of directors for 2023.  Nilesh Bubna, founding partner and CFO, Longpoint Realty Partners, will serve as president, along with president-elect Ravi Ragnauth, CFO, Berkshire Residential Investments, and treasurer, Jill Sharif, VP, National Business Development, Commonwealth Land Title Insurance Company NCS.

Noeldechen of Marcus & Millichap Capital Corp. arranges $3.64 million financing

New Haven, CT Marcus & Millichap Capital Corp. (MMCC) arranged a $3.64 million loan for Chapel Street Lofts, a 36,000 s/f, four-story multifamily property featuring 23 loft-style apartments located at 441 Chapel St. The financing was secured by Robert Noeldechen, first vice president, capital markets

South Shore Bank provides $100,000 grant to Father Bill’s & MainSpring’s Yawkey Housing Center

Quincy, MA Father Bill’s & MainSpring (FBMS), a regional leader of services to prevent and end homelessness, has been awarded a $100,000 grant from the South Shore Bank Charitable Foundation in support of the non-profit’s innovative Yawkey Housing Resource Center.

Hajjar Management Co., Inc. secures $7.4 million financing from Rockland Trust for redevelopment of former Notre Dame School

Fall River, MA Hajjar Management Co., Inc. secured $7.4 million from Rockland Trust for the redevelopment of the vacant three-story former Notre Dame Grammar School. The former 45,640 s/f school located at 34 Saint Joseph St.,

Cambridge Savings Bank is lead bank in $93m construction loan for Innes Apartments project

Chelsea, MA Cambridge Savings Bank (CSB) is the lead bank in a $93 million construction loan to support the Innes Redevelopment project, with the development of two new multi-purpose buildings. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company

Washington Trust provides $27 million financing to Rocky Hill Properties for 144-unit, class A multifamily property

Rocky Hill, CT Washington Trust’s Commercial Real Estate Group has provided $27 million in permanent financing to Rocky Hill Properties, LLC, for its 144-unit, class A multifamily property located at 11 Kensington Ln.

East Cambridge Savings Bank president and CEO Nogueira presented with the 2022 Margaret Fuller Award

Cambridge, MA East Cambridge Savings Bank president and CEO Gilda Nogueira was presented with the 2022 Margaret Fuller Award at the recent Margaret Fuller Neighborhood House 120th Anniversary Gala Celebration held on October 20th at the Sheraton Commander Hotel