Financial Digest

Knighthead Funding provides $37.75 million loan for hotel conversion for a local partnership operating as Sean Casey, LLC

Cambridge, MA Knighthead Funding, LLC has originated a $37.75 million loan for the completion of an upscale independent 67-room hotel. With Knighthead Funding’s 24-month financing, the sponsor, a local partnership operating as Sean Casey, LLC

Sidel of EagleBridge Capital arranges $5.245 million in acquisition/permanent mortgage financing

Marlborough, MA EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $5.245 million for 33 Locke Dr. The mortgage financing was arranged by EagleBridge principal Ted Sidel

Eastern Bank completes three construction loans totaling $8 million for Arista Development, LLC

Framingham, MA Eastern Bank has completed three construction loans totaling $8 million to Norwood-based developer Arista Development, LLC, for ground-up construction of free standing retail properties in Framingham, Bedford, N.H., and Providence.

Cornerstone Realty Capital arranges $2 million in financing

Brighton, MA Cornerstone Realty Capital has arranged $2 million in financing for a three-unit property situated in a transit-oriented location in the city. The property features a mix of 1 three-bedroom, two-bathroom unit, 1 five-bedroom,

KeyBank secures $50m in Freddie Mac financing for The Dolben Company

Salem, NH KeyBank Real Estate Capital has secured $50 million in Freddie Mac financing for The Dolben Company, to refinance a 256-unit, class-A mid-rise apartment complex. Built this year, Corsa Tuscan Village North

Cain International and Madison Realty Capital arrange financing to develop the Raffles Back Bay

Boston, MA Cain International and Madison Realty Capital (MRC) complete financing to develop the Raffles Boston Back Bay Hotel & Residences at 40 Trinity Place. Cain, which will provide the majority of the equity to develop this marquee property

MassHousing closes on $11.2m in affordable housing financing

East Boston, MA MassHousing has closed on a total of $11.2 million in affordable housing financing to WinnCompanies for the development of 22 new rental housing units and 30 new condominiums on the waterfront. The Clippership Apartments and Clippership Condominiums

People’s United Bank to acquire United Financial

Bridgeport, CT People’s United Bank, N.A. a subsidiary of People’s United Financial, Inc., has entered an agreement to acquire United Financial Bancorp, Inc., the holding company for United Bank, in a 100% stock transaction valued at $759 million.

Bridgewater Savings Bank promotes Pereira

Raynham, MA Bridgewater Savings Bank (BSB) has promoted Diane Pereira to assistant vice president and marketing officer.

Real Estate Finance Association August update: Programming and upcoming annual events

Boston, MA The Real Estate Finance Association’s (REFA) Fundamentals programs are tailored as 101-type educational events covering various relevant and timely industry topics. On July 18th, REFA held its second Fundamentals program of the year