Category: Finance

Let’s assume that everybody in America, despite their politics, are for affordable housing. That’s because everybody agrees that housing costs a lot. But, like everything else, it depends on your financial ability, where you want to live, how and whether you can “afford” it. It’s at all levels.

Boston, MA JLL Capital Markets has arranged a $75 million credit facility on behalf of a joint venture between Sendero Capital and Angelo Gordon that was formed to target the medical property sector.

Westerly, RI According to Washington Trust, Bethany Lyons was promoted to senior vice president and team leader of its commercial real estate division. She is responsible for managing the lending and sales activities, including deal sourcing, structuring, and portfolio management,

Quincy, MA JLL Capital Markets has arranged a $27 million refinancing for One Heritage Dr., a 172,849 s/f office building. JLL worked on behalf of the borrower, FoxRock Properties, to secure the five-year, fixed-rate loan

Wilmington, MA EagleBridge Capital has arranged mortgage refinancing in the amount of $30 million for the Ballardvale Technology Center, a flex/R&D/office complex located at 181 and 187 Ballardvale St.

Wareham, MA Cornerstone Realty Capital arranged $4.1 million in financing for the acquisition of newly constructed commercial buildings. The retail properties are comprised of three new construction buildings consisting of a two-tenant building leased to five nationally recognized tenants

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.

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.

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

Debt and Real Estate Lending: The cost and availability of debt makes a big difference, but maybe not as big a difference as we think. Why? Markets are adaptable and multi-family markets are getting used to the high interest rate environment. To be sure, lenders are acting with greater discipline in the current environment.

Real estate appraisers, particularly those involved with commercial real estate remain busy despite rising interest rates and an overall slowdown in market activity. During these busy times, appraisers must remember to stay consistent with the fundamentals of appraising.

Everybody agrees: Housing is expensive, or worse, not affordable, at almost every level of society. Cities have been working on the problem forever, housing advocacy groups likewise. I wrote about it a few monthly articles ago, and this is a needed update. Simply put, the problem is still that there is more demand than supply, some suggesting that hundreds of thousands of housing units must be built to make a dent.