Financial Digest

Three North Easton Savings Bank employees graduate from ABA Stonier Graduate School of Banking

Easton, MA According to North Easton Savings Bank, three of its employees graduated from the ABA Stonier Graduate School of Banking, a program that equips senior-level bankers with leadership and strategy skills.

Worth Avenue Capital, LLC funds a $4.5 million loan for development of a 320-unit apt. complex in Glastonbury, CT

Glastonbury, CT Worth Avenue Capital, LLC (WAC) closed a $4.5 million commercial loan for one of the premier real estate developers in Southern New England. The loan proceeds will be used by the sponsor to restructure existing debt and for working capital and development purposes on ten plus acres

The Village Bank hires Francis as vice president, digital banking

Newton, MA According to Joseph De Vito, president and CEO of The Village Bank, Clarice Francis has joined the bank as vice president, digital banking. Francis joins the bank after working in the same role at Athol Savings Bank.

Trinity Financial to revitalize The Aeolian Company
building in Meriden, CT with $56 million investment

Meriden, CT The Aeolian Company building, a manufacturing facility for automatic player pianos established in 1887 and a significant part of the town’s history, is set to experience a significant redevelopment. Located at 85 Tremont St., the long-underutilized complex in the North End neighborhood

Jones joins Eastern Bank as senior vice president, community development lending team leader

Boston, MA Eastern Bank has welcomed Erik Jones as a senior vice president, community development lending team leader. Jones brings deep experience in lending for a broad array of corporate and tax-exempt organizations in the healthcare, education, human services and philanthropic communities.

KeyBank Real Estate Capital secures $24 million Freddie Mac fixed-rate loan for The Dolben Company

Haverhill, MA KeyBank Real Estate Capital (KBREC) secured a $24 million Freddie Mac fixed-rate loan for The Dolben Company, Inc. to refinance existing debt on a multifamily housing property known as Pine Brook Place. Pine Brook Place is a garden-style apartment community with 240-units and consists of 10, three-story apartment buildings

MassDevelopment issues $12.08 million tax-exempt bond on behalf of Inquilinos Boricuas en Acción, Inc.

Boston, MA MassDevelopment has issued a $12.08 million tax-exempt bond on behalf of Inquilinos Boricuas en Acción, Inc. (IBA), which will use proceeds to build the city’s new home for Latinx art and community empowerment, La CASA: The Center for Arts, Self-Determination,

Related Beal closes financing on Innovation
Square Phase III development

Boston, MA Related Beal has closed financing on Innovation Square Phase III (ISQ3), a 345,000 s/f life science development in the city’s Raymond L. Flynn Marine Park (RLFMP). Details of the financing were not disclosed.

Rockport Mortgage closes $10.3 million in financing for 70-units of affordable housing - Prence Grant and Meadowbrook Apartments

Carver, MA Rockport Mortgage has closed on a $10.3 million, HUD Section 223(f) refinance loan for Prence Grant and Meadowbrook Apartments, 70-units of subsidized affordable housing for seniors located on three non-contiguous parcels of land in the towns of Marshfield and Carver.

Winchester Savings Bank elects Merritt to the board of trustees

Winchester, MA According to John Carroll, president and CEO of Winchester Savings Bank, Edward Merritt has been appointed to the board of trustees. Merritt was elected to the board for a three-year term at the bank’s annual meeting.