 (1).gif)
News:
Finance
Posted: November 13, 2015
Washington Trust provides $25 million for Village at South County Commons
South Kingstown, RI Washington Trust’s Commercial Real Estate Group recently provided $25 million to SCC Investments, LLC, SCC Investments II, LLC and Green Tree Realty, LLC, for the refinancing of the 17 building, mixed-use Village at South County Commons.
Village at South County Commons - South Kingstown, RISouth County Commons opened in 2003 and is considered one of southern Rhode Island’s premiere destinations for shopping, dining, professional services, entertainment and living. Today, The Village at South County Commons is situated on 30 acres and includes 17 buildings with a total of 200,000 s/f of space. The Commons is currently home to more than 70 tenants which include retail, restaurant, professional office and medical space as well as a Hampton Inn, luxury apartments, condominiums, independent and assisted living facilities, an eight-screen cinema, spa, and fitness center.
“Our clients have developed a real destination providing the only true lifestyle center in Southern Rhode Island,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s Commercial Real Estate Group. “With its excellent positioning and leisure amenities, the Commons has much to offer both its office and retail clients as well as the surrounding South County communities.”
Washington Trust’s Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects.
Tags:
Finance
MORE FROM Finance
Kozlowski of Newmark Capital Markets secures $115.6m financing for two properties
East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
 (1).gif)
Quick Hits
Columns and Thought Leadership
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
