Financial Digest

WAC closes a $1.1m construction loan

Greenwich, CT Worth Avenue Capital, LLC (WAC) has closed a $1.1 million construction loan for a repeat borrower for the purpose of building a new “spec” house on Stanwich Rd. The loan is secured by a junior mortgage on the Stanwich Rd.

Berkshire Bank provides $2.95m historic tax credit for the United Theatre

Westerly, RI Berkshire Bank completed a Historic Tax Credit (HTC) investment to support the revitalization of The United Theatre. The project also supports Berkshire’s previously announced BEST Community Comeback in which it is lending and investing in activities that revitalize local economies.

Washington Trust provides financing to Quarry Milford LLC

Milford, MA Washington Trust’s Commercial Real Estate Group provided financing to Quarry Milford, LLC for the acquisition and redevelopment of Quarry Sq., a 196,674 s/f retail center,

Real Estate Finance Association names 2022 board of directors - O’Neil named president

Boston MA The Real Estate Finance Association (REFA) has named its Board of Directors for 2022. Lauren O’Neil, managing director COO, private equity at AEW Capital Management will serve as president, along with president-elect, Nilesh Bubna,

Coulombe of Fantini & Gorga arranges $23m loan for Brooks Street Commons

Worcester, MA Fantini & Gorga has completed the placement of a $23 million construction loan for the Brooks Street Commons, a to-be-built 111-unit multifamily property on the north side of the city.

JLL Capital Markets secures $35.34 million funding for two office assets

Andover, MA JLL Capital Markets has arranged $35.34 million in financing for the acquisition and repositioning of a 233,726 s/f, two-building R&D/office portfolio into a life sciences campus in the suburban Boston community.

Marcone Capital completes $21.5m financing of Connector Park - consisting of two, four-story office buildings totaling 199,783 s/f

Lowell, MA Mike Marcone of Marcone Capital, Inc. has arranged the financing of Connector Park, a property consisting of two, four-story, high quality office buildings totaling 199,783 s/f.

Sidel of EagleBridge Capital places $14.65 million debt and equity financing for a class A, two-story building containing 77,000 s/f

Andover, MA EagleBridge Capital has arranged mortgage and JV equity financing in the amount of $14.65 million for 6 Riverside Dr., a flex/R&D building. The financing was arranged by EagleBridge principal Ted Sidel.

CBRE Investment Management closes on a $49.7 mortgage loan

Ashland, MA A fund sponsored by CBRE Investment Management closed on a $49.7 mortgage loan to finance Taurus Investment Holdings’ acquisition and renovation of Chestnut Place, a 207-unit garden-style residential property.

PACE Loan Group provides $3.2 million in financing

Providence, RI Rhode Island Infrastructure Bank (Infrastructure Bank) completed $3.2 million in Commercial Property Assessed Clean Energy (C-PACE) program financing for energy efficiency elements being built into the new Eddy Street Self Storage facility