Sidney Spiegel, vice president of NE Moves Mortgage, commercial division, arranged a $4.4 million refinance loan for Pine Manor College. The loan was funded by a major regional bank.
The funds will be used to refinance existing debt and to provide for capital improvements to the property and repairs and maintenance of the existing buildings.
According to Spiegel, the borrowers were able to structure a very favorable loan structure with the lender to allow repayment flexibility over the next few years.
NE Moves Mortgage works closely with union pension plans, insurance companies, conduits, commercial banks, and local savings banks to provide competitive rates and terms.
NE Moves Mortgage's expertise and relationships with a variety of funding sources provides solutions to the financing needs of investors and developers.
Pine Manor College is a private liberal arts women's college. It was founded in 1911 as a post secondary division of Dana Hall School. In 1977, the college expanded its mission and confers Bachelor of Arts degrees in Humanities and Social Sciences. Today the college offers 9 major at the baccalaureate level and minors in 30 fields.