News:
Finance
Posted: October 10, 2007
Ashworth Mortgage places $4.85M financing for to be built CVS
Richard Ashworth and June Fish of Ashworth Mortgage Corp. have recently finalized their placement of forward fixed rate financing in the amount of $4.85 million for a to-be-built CVS store. The loan was placed with a life insurance company.
The subject property is 11,000 s/f with drive-thru located on 311-313 Newbury St. (Rte. 1). The free standing property is the new prototype facility being developed by CVS. The directive of site selection being convenient and accessible was met by this prototype store.
When asked to comment, Ashworth said "Given the dynamic changes in the marketplace, our lender honored its commitment and held the low rate despite the adverse lending environment."
Ashworth Mortgage Corp. specializes in the placement of debt and equity financing for all types of commercial real estate.
Tags:
Finance
MORE FROM Finance
Eastern Bank donates $2 million to Lynn Public Schools
Lynn, MA The city of Lynn’s purchase of the former Eastern Bank headquarters at 195 Market St. is paying dividends in more ways than one. In issuing an RFP in the spring of 2024, the city was seeking to acquire multi-purpose space,
Quick Hits
.png)
Columns and Thought Leadership
Real estate without good estate planning - a troublesome problem - by Daniel Calano
I spent the better part of a day this week working with attorneys on estate planning. I am clearly not an attorney, but I have learned much over the years while consulting on real estate, its potential, its future during the life of clients, as well as, shall we say, later.
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.
It’s a confusing real estate world: Don’t you think? - by Daniel Calano
The news is full of “never before” pronouncements. Never before has there been a pandemic so impactful on real estate. Never before has technology allowed for remote business meetings on such a frequent basis. Never before would people so comfortably work from home as to vacate office buildings, at least on Fridays and Mondays.
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
