Guilford, CT GSB (Guilford Savings Bank) has promoted Kyle Eagleson as president and CEO. This follows the planned succession from Timothy Geelan, who retired as CEO on April 1
st.
Boston, MA According to Eastern Bank, Tobin Scientific, a leading provider of ambient and cold GMP storage, biorepository services and specialized logistics for the life sciences industry, is a new commercial banking customer. Eastern Bank is providing Tobin Scientific with a full-service banking relationship that includes financing as well as deposit and treasury services.
It’s crazy that we “real estaters” look to the Federal Reserve to “lower rates,” hoping and planning for cheaper borrowing, to build affordable housing, or that commercial building we’ve been waiting to build. The myth goes on...believing that lowering a quarter point here and there will make borrowing more available and feasible.
Boston, MA On May 28
th, REFA attended a walking tour of Lyrik Back Bay followed by a networking reception at the citizenM hotel; A destination for work, play, and culture, and a new gateway to the city and a vibrant anchor for the Back Bay neighborhood.
Stonington, CT JLL Capital Markets has arranged $41.5 million construction financing for Stonington Village, a 160-unit mixed-use multifamily and retail development project. JLL worked on behalf of the borrower, READCO, in arranging the five-year,
Boston, MA Colliers has arranged the $34.3 million refinancing of the Custom House Block and Gardiner Building at Long Wharf, a mixed-use office and retail asset located at 66 Long Wharf.
Danbury, CT According to Union Savings Bank (USB) president and CEO Chelen Reyes and chair of the board Lucie Voves, six new corporators have been elected at the bank’s annual meeting.
Templeton, MA MPZ Development LLC (MPZ) and Capstone Communities LLC (Capstone) have closed on the financing of the Baldwinville School Apartments redevelopment project (project). With funding secured, Capstone and MPZ will begin the development process for the town’s first multifamily housing project
North Attleboro, MA Rockland Trust has provided financing to 150 Draper LLC for the construction of a new 40-unit mixed-income multifamily housing complex at 150 Draper Ave. The newly formed 150 Draper LLC is managed and co-owned by Kevin Lobisser of the Lobisser Companies.
Yes, but not the way you may think. Lenders who provide mortgage financing want assurances that their financed projects will be completed in accordance with the approved plans and specifications. The last thing lenders want is to be left with an unfinished project which fails to produce cash flow, especially if repayment of the financing is contingent upon completion of the project.
