Financial Digest

Eastern Union arranges $19.6 million construction
loan for 131,075 s/f project

Bridgeport, CT Eastern Union, one of America’s largest commercial real estate mortgage brokerage firms, has arranged a $19.6 million construction loan in support of the conversion of a 131,075 s/f, former healthcare complex into a multifamily property at 600 Bond St.

MassHousing closes $14.5 million refinancing

Boston, MA MassHousing has closed a $14.5 million deal with Rogerson Communities to extend the affordability of the 76-unit Farnsworth House senior housing for at least 24 years.

Worth Avenue Capital places $130,000 loan

Weston, CT Worth Avenue Capital, LLC (WAC) closed a $130,000 commercial loan to a real estate investor who is purchasing a residential property in town. The loan proceeds will be used towards the purchase of the aforementioned property

MassDevelopment issues $4.64 million tax-exempt bond for South Shore Stars

Weymouth, MA MassDevelopment has issued a $4.64 million tax-exempt bond on behalf of South Shore Stars, Inc., a nonprofit early education and youth development organization, which will use proceeds to buy a building at 163 Libbey Industrial Pkwy.

Real Estate Finance Association hosts 35th Annual Gala at Boston Omni at the Seaport honoring Steven Samuels of Samuels & Associates

Boston, MA On Thursday, October 5th, over 500 REFA members and friends gathered to honor Steven Samuels, chairman & princiapl of Samuels & Associates, as he was awarded the Swain Distinguished Service Award at the 34th Annual REFA Gala.

Eastern Bank places financing for LeClair Village Apartments

Mashpee, MA Eastern Bank has placed financing for the development of the LeClair Village Apartments. Scheduled to open in 2025, LeClair Village will feature 39 affordable rental units designed to serve low- and moderate-income households, including 14 one-bedroom apartments, 21 two-bedroom units, and four three-bedroom apartments. Eastern is providing a construction loan for the build-out of the Village

Real Estate Finance Association - Fall full of festivities

Boston, MA The Real Estate Finance Association hosted its Annual Charitable Golf & Tennis Tournament on Monday, August 28th at Dedham Country & Polo Club, benefiting Breaktime and FamilyAid. Over 130 golfers and tennis players gathered for a day of networking, golf, tennis, raffles, and most importantly – supporting two local organizations dedicated to ending homelessness in Greater Boston.

MassHousing provides $12.9 million in financing to The Bixby in Brockton, MA

Brockton, MA The Bixby Brockton Apartments, a 106-unit affordable housing complex, is set to receive $800,000 in improvements and have affordable rents extended for the long term. MassHousing provided $12.9 million in financing. The Affordable Housing and Services Collaborative, which owns the property,

Washington Trust provides $4.925m to Phoenix Central Falls

Central Falls, RI Washington Trust’s Commercial Real Estate Group recently provided $4.925 million in financing to Phoenix Central Falls Industrial Investors, LLC for the renovation and future tenant improvements of a 350,000 s/f industrial building located on Broad St. “Washington Trust is pleased to provide a financing solution for our client as they purchase and reposition this strategically located asset in Central Falls,” said Julia Anne Slom

Do you hold a Connecticut real estate appraiser license? - by Jacqueline Beauchaine

Do you hold a Connecticut real estate appraiser license? If your answer is yes, this is a must read! The state of Connecticut has adopted new regulations that now require any licensee that falls under the Department of Consumer Protection to now submit their continuing education hours 90 days in advance of their renewal date.