Financial Digest

Rockland Trust provides $22m in financing to Cruz Development - for the $34m Dr. Michael Haynes Arms building project

Roxbury, MA Rockland Trust Bank has provided a $22 million loan to Cruz Development Corp. for the first mortgage construction and permanent loan financing of the Dr. Michael E. Haynes Arms building. The $34 million project will

Cornerstone Realty Capital arranges $9.1million for acquisition of apartment property in Ayer, Mass.

Ayer, MA Cornerstone Realty Capital has arranged $9.1 million for the acquisition of an apartment property. The property consists of 76 units, spread between three, three-story garden-style buildings and four townhouses.

Marcone of Marcone Capital handles $18.4 million financing of Reservoir Office Park

Brookline, MA Mike Marcone of Marcone Capital, Inc. has arranged the $18.4 million financing of a 47,227 s/f medical and general office building located at 822-826 Boylston St.

Eastern Bank welcomes Rex Lumber Company as a new banking customer

Boston, MA Eastern Bank welcomes Rex Lumber Co. as a new commercial banking customer. Founded in 1946, Rex Lumber is a third-generation, family-owned and operated business distributing hardwood lumber with revenue between $50 and $100 million.

CEDAC and LISC lend $8.5m to The Neighborhood Developers

Chelsea, MA The Community Economic Development Assistance Corp. (CEDAC) partnered with Local Initiatives Support Corp.(LISC) and its Equitable Transit-Oriented Development Accelerator Fund (ETODAF), to lend a total of $8.5 million in acquisition

Landry named partner at FinanceBoston

Boston, MA Doug Landry, a principal at the real estate investment and advisory company FinanceBoston, has been named as a partner at the 16-year-old firm. Landry joined FinanceBoston as a principal in July 2018.

Lenders beware! - by Mattera and Currier

Although we are currently in the midst of the longest recovery in history, recent market events remind us that the economy is cyclical. Household debt is at a record high, while the saturated retail and restaurant sectors have been generating a number of high-profile Chapter 11

The Real Estate Finance Association has a busy month of February with multiple events

Boston, MA The Real Estate Finance Association (REFA) is coming off an eventful month. On February 25th, REFA hosted a sold-out education program at Atlantic Wharf on The Impact of the LIBOR Changes.

JLL Capital Markets arranges $43.18 million in acquisition financing - loan placed with Cambridge Savings Bank

Framingham, MA JLL Capital Markets has arranged $43.18 million in acquisition financing for a two-property office portfolio totaling 292,014 s/f. JLL worked on behalf of the borrower, a partnership between Campanelli and

Loan placed with Cambridge Savings Bank

Ashland, MA Citizens Bank’s Community Development Group has provided $24.2 million in construction loans for three separate affordable housing projects in the state.