Boston, MA M&T Bank has closed on $105 million of financing for the development of 100 Shawmut Ave. by The Davis Companies. The existing class B office building will be redeveloped and expanded to a luxury condominium building.
Marlborough, MA Cornerstone Realty Capital has arranged $2.7 million in financing for a 12,980 s/f retail building for the Bilotti Group Inc. The property currently houses four tenants and is anchored by a Starbucks. Spaces currently range from 1,500 to 7,466 s/f.
Charlestown, MA Alan Doyle, principal of Larew Doyle & Associates arranged $26 million in leasehold construction/mini-perm financing for the redevelopment of the Ropewalk and Tar House Buildings, located in the Charlestown Navy Yard, to be converted to a 97-unit residential property with a 20% affordability component.
Leominster, MA KeyBank Real Estate Capital has originated a $12.2 million Fannie Mae, first mortgage loan for Sunrise of Leominster. Built in 1996, the property is comprised of one, three-story, 70-unit building situated on five acres.
Nantucket, MA Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale and arranged acquisition financing for The Veranda House Hotel Collection, two adjacent boutique hotel properties totaling 29 guest rooms. HFF represented the private sellers in the sale of the properties to affiliates of Procaccianti Companies.
Boston, MA The CBRE Capital Markets team has secured $62 million in financing for the recapitalization of a 19-building apartment portfolio located in Boston and Lynn, Mass. The assets consist of well-managed workforce housing with a combination of both market-rate and affordable apartments.
Manchester, CT Worth Avenue Capital, LLC (WAC) closed a $275,000 loan to a CT- based real estate developer. The loan proceeds will be used to begin to develop a large piece of commercial real estate.
Greenwich, CT Hunt Capital Holdings has acquired Peak 8 Asset Management. Peak 8’s investment professionals, including its president, David Moran, will remain employed by the firm.
Boston, MA The Real Estate Finance Association (REFA) has named Jonathan Davis, founder and CEO of The Davis Companies, as the 2019 annual REFA gala honoree. As the 31st recipient of the Swain Award, Davis joins a list of award honorees, all of whom have made outstanding contributions to the Greater Boston community
Mattapan, MA Sidney Spiegel of Spiegel Associates arranged a $3.28 million loan for a mixed-use property. The loan was funded by a regional bank that saw the value of the property to the community.
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