Financial Digest

Urban Spaces secures $71 million construction loan for Kendall East from People’s United Bank

East Cambridge, MA Urban Spaces has finalized a $71 million construction loan with People’s United Bank for Kendall East, a mixed-use, two-building property comprised of 120 market-rate and 16 affordable apartments and 15,000 s/f of retail located in the First St.

Eastern Bank leads $11 million loan for Thorndike Development for ground-up construction of the Copperworks Condominiums

Canton, MA Eastern Bank places $11 million construction loan to Thorndike Development for ground-up construction of the Copperworks Condominiums. With first occupancies planned for this December, Copperworks is a three-story boutique condominium community

Boston Appraisal & Consulting opens Boston office at 100 Franklin St.

Boston, MA Boston Appraisal & Consulting, LLC has opened their new office at 100 Franklin St., 7th floor. Thomas Jensen, MAI, a seasoned commercial real estate appraisal industry veteran, leads the office as executive director.

JLL arranges $140 million first mortgage construction financing with Bank OZK for 289,000 s/f office and lab development

Somerville, MA JLL has arranged $140 million in financing for 101 South St., a 289,000 s/f, class A office and lab development in the Boynton Yards area of the city. The project is under construction

AmeriCann secures $4 million in financing - placed by GVC Capital

Freetown, MA AmeriCann, Inc., a cannabis company that is developing cultivation, processing and product manufacturing facilities, has secured a $4 million investment to accelerate the second phase of construction at its Massachusetts Cannabis Center

Natalizio of Cornerstone Realty Capital arranges $3.8 million financing for Lawton Place

Waltham, MA Cornerstone Realty Capital has arranged $3.8 million for the acquisition and renovation of a townhouse-style apartment building. The property, known as Lawton Place, consists of 11 three-bedroom units and one four-bedroom unit

MassHousing closes on $5.5 million in financing for 2Life Communities

Brookline, MA MassHousing has closed on a total of $5.5 million in affordable housing financing to 2Life Communities for the development of the Harold and Ronald Brown Family House, which will create 62 new, mixed-income

FinanceBoston arranges $2.568 million senior loan for a mixed-use property

Rowley, MA FinanceBoston has arranged a $2.568 million senior loan secured by a mixed-use property. The property has direct frontage on the Essex County town’s main business corridor and benefits from numerous long-standing tenants.

Harvard and LISC Boston renew $10 million affordable housing investment

Boston, MA Harvard’s flexible, low-cost $10 million investment with Local Initiatives Support Corp. (LISC) 20 years ago contributed to the creation or preservation of 3,108 units of diverse affordable housing in its host communities of Boston and Cambridge.

Worth Avenue Capital, LLC closes a $1.5 million construction line of credit to a CRE development group

Hartford, CT Worth Avenue Capital, LLC (WAC) closed a $1.5 million construction line of credit  to a CRE development group on a highly visible sixteen acre CRE property in Fairfield County.