Financial Digest

Real Estate Finance Association October update: Fall programming and REFA Gala

On September 20th, REFA held the Annual Fall Conference at the Boston Harbor Hotel. The keynote session and panel discussion focused on the topic of, “Boston as the Center for Economic Development and Innovation.” The keynote speaker Kate Gulliver,

Eastern Bank places $2.6 million construction loan for Stoneridge Mutual Properties

Brockton, MA Eastern Bank placed a $2.6 million construction loan to Stoneridge Mutual Properties (Stoneridge) for the conversion of a former office building into a residential property at 75 Commercial St.

Groblewski and Feig of Fantini & Gorga arrange $8.5 million to refinance Burlington Self Storage

Wilmington, MA Fantini & Gorga arranged the refinancing of Burlington Self Storage in the amount of $8.5 million. Fantini & Gorga placed the financing on behalf of a long-standing client that has

Appraising cold storage/food facilities: Cost vs. market value - by Thomas Jensen

It is important for an appraiser to understand the difference between cold storage and food processing facilities compared to other forms of more traditional warehouse and manufacturing plants. The appraiser first needs to identify their unique physical characteristics and use

MassDevelopment and Washington Savings Bank provide $3.062 million loan to Degmar Development affiliate for Residence at Mill Sq.

Lowell, MA MassDevelopment has participated with Washington Savings Bank to provide a $3.062 million loan to Residence at Mill Square LLC, an affiliate of Degmar Development Corp. Degmar used proceeds to

Oliver Street Capital secures $12.6 million loan with UniBank; arranged by Paulsrud and Lousararian of JLL

Tewksbury, MA JLL has arranged a $12.6 million refinancing for 554 Clark Rd., a 102,200 s/f flex/R&D building. JLL worked on behalf of the borrower, Oliver Street Capital, to secure the fixed-rate loan with UniBank

Company of the Month: Cornerstone Realty Capital celebrates 15 years of shared success

Lexington, MA Cornerstone Realty Capital, a boutique commercial mortgage brokerage company, is celebrating an exciting milestone as the company reaches 15 years of shared success. Over the last 15 years,

KeyBank CDLI secures $41 million for The Community Builders to renovate phase 2 of Lyman Terrace Apartments in Holyoke, MA

Holyoke, MA KeyBank Community Development Lending and Investment (CDLI) secured $41 million of financing for The Community Builders (TCB), a nonprofit real estate developer, owner and manager based in Boston,

The threat of cyber fraud - Security is imperative for all 1031 Exchange funds - by Patricia Flowers

Fraud and cybercrime, particularly involving bank wire transfers for real estate transactions, continue to increase at an alarming rate. The long known scams of phishing emails with claims of lottery winnings or an inheritance, the need to protect loved ones by forwarding funds, etc.

Understanding how 1031 like-kind exchanges and vacation homes work - by Bill Lopriore

Many people own rental properties in vacation locations. With proper planning, a tax-deferred exchange may help them enjoy their vacation property to a limited extent, while still having the tax benefits available from a tax-deferred exchange.