Category: Finance

Last month, I wrote about the basic factors that kept interest rates high, and thus building or buying houses, as well as commercial projects, difficult to pursue. Factors included the Fed, bank, fears of inflation, wars, etc. It is complicated. Give it a read.

Amidst the recent interest rate volatility, Matthew Fazio and Michael Roper, managing directors with Kensington Capital Advisors, provided an introduction to interest rate hedging and derivative products on June 3rd. The webinar discussed the current underlying economic conditions that are creating the recent interest rate volatility and reviewed the derivative products available to actively manage that interest rate risk.

Woonsocket, RI Leading financial services provider Merchants Capital secured $56.5 million in debt and tax credit equity financing for the acquisition of Rock Ridge Apartments, a 152-unit multifamily housing development developed by The BLVD Group (BLVD).

Windsor Locks, CT A major milestone has been reached in the effort to revitalize downtown. Trinity Financial has secured $1.46 million in 9% Low-Income Housing Tax Credits (LIHTC) from the Connecticut Housing Finance Authority (CHFA) to fund the first phase of a transformative transit-oriented

Warwick, RI Rhode Island Golf Entertainment LLC has expanded its X-Golf business with a second location at 1350 Bald Hill Rd. within the Warwick Center Plaza. The development was facilitated with the aid of a $795,000 U.S. Small Business Administration (SBA) 7(a) loan

Boston, MA JLL’s Capital Markets group has arranged a $650 million refinancing for One Congress, a recently delivered, trophy office building totaling 1.008 million s/f.

North Adams, MA MountainOne has promoted six employees to officer roles. The promotions include the following: • Heather Row, vice president, commercial portfolio manager -  Row’s extensive knowledge of underwriting, particularly in commercial and industrial exposures, has been essential to managing risk and expanding the bank’s portfolio.

Brockton, MA Rockland Trust has appointed Thomas Stapleton as senior vice president and director of foreign exchange & international services. Stapleton will manage the bank’s activities related to international currency transactions including managing foreign exchange risk, executing trades, cross border

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 1st.

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.

If commercial real estate in Greater Hartford were a sitcom, it would be somewhere between The Office and Survivor – a quirky mix of familiar routines, unexpected plot twists, and the occasional high-stakes drama. For those of us working in the field – brokers, appraisers, developers, property managers – it’s not just a job, it’s a front-row seat

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.