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Category: Finance
Worth Avenue Capital provides $1.5 million loan
June 14, 2024
Greenwich, CT Worth Avenue Capital, LLC (WAC) has closed a $1.5 million short-term bridge loan for a local home builder. The loan proceeds will be used for working capital purposes by the borrower and the loan is secured by a blanket second mortgage on two recently constructed luxury homes,
Eastern Bank provides financing for Capstan Atlantic’s conversion to employee-owned company
June 14, 2024
Boston, MA Eastern Bank has provided the financing to facilitate Capstan Atlantic’s conversion to an employee-owned company. Founded in 1956 and located in Wrentham, Mass., Capstan Atlantic is an industry leading powder metal manufacturer producing complex gears, sprockets and structural components for the automotive industry
The Village Bank promotes employees at annual meeting
June 14, 2024
Newton, MA At The Village Bank’s recent annual meeting, president and CEO Joseph De Vito announced the following officer promotions: Lisa Boccabella will assume the new title of senior vice president, chief risk officer.
East Cambridge Savings wins two New England Financial Marketing Association awards
June 14, 2024
Cambridge, MA East Cambridge Savings Bank won two gold awards at the New England Financial Marketing Association (NEFMA) Spring Conference. The bank’s “K to College” campaign and four-month CD campaign were both recognized with a NEFMA gold award in the best 2023 Digital Marketing campaign
Real Estate Finance Association jumps into Summer
June 14, 2024
Boston, MA REFA held its Annual Past President Luncheon on Wednesday, May 29th at Nutter McClennen & Fish LLP. The gathering brings together the current president, Ravi Ragnauth, Berkshire Residential Investments and all past presidents to network, learn what REFA has accomplished the past year, and share ideas for how to continuously grow the association.
MassHousing provides $50 million in financing
for Clarendon Hill Towers
May 10, 2024
Somerville, MA MassHousing has provided $50 million in financing for Clarendon Hill Towers, a 501-unit apartment property. Residents will benefit from preserved affordable rents and $13 million in property improvements. Connolly & Partners, LLC, and the Clarendon Hill Towers Tenant Association
JLL completes sale and financing of
Hopkinton office and data center asset
May 10, 2024
Hopkinton, MA JLL Capital Markets has completed the sale and financing of 117 South St., a two-story office and data center building totaling 56,324 s/f. Details of the sale and financing were not disclosed. JLL marketed the property on behalf of a confidential seller, and procured the buyer, Rhino
Real Estate Finance Association
blooms with programming
May 10, 2024
Boston, MA The Real Estate Finance Association (REFA) would like to congratulate 2024 REFA president-elect Jill Sharif, Commonwealth Land Title Insurance Company - NCS as the recipient of CREW Boston’s 2024 Leadership Award!
Rockland Trust provides financing for two
developments totaling $16.1 million
May 10, 2024
>Fall River, MA Hajjar Management has secured $10.6 million in financing from Rockland Trust for the redevelopment of the 151-year-old Sacred Heart Church and rectory. The former 37,850 s/f church and rectory, located at 160 Linden St., will be converted into 46 market-rate apartments.
M&T Realty appoints Newton as managing director
May 10, 2024
Boston, MA M&T Realty Capital Corporation has appointed Matt Newton as managing director. Newton joins the production team and will handle nationwide loan origination using various capital sources, including agency, FHA, life companies, debt funds, and M&T Bank capabilities.
Colliers arranges $52.75 million in financing for
Oliver Street Capital and Bain Capital Real Es...
May 10, 2024
Peabody, MA Colliers has arranged the $52.75 million refinancing of 140 Summit St., a headquarters warehouse and distribution facility in Centennial Park. The Colliers team, led by executive vice president John Broderick and vice president Patrick Boyle, worked on behalf of their client Oliver Street Capital and Bain Capital Real Estate
News from Fannie, Freddie and USPAP - by Bill Pastuszek
May 10, 2024
For residential appraisers: the GSEs continue to publish guidance for residential appraisal practice. Here are some recent excerpts. Fannie Mae - Reconsideration of Value Guidance (Selling Guide Issuance, May 1, 2024, effective August 1, 2024).
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