Brief Recap – In a brief recap, 2024 saw a welcomed surge in commercial real estate (CRE) lending, which grew by $498 billion (16%) over the prior year. Given its continued popularity it’s no surprise that multifamily lending
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,
Hyannis, MA MassDevelopment has partnered with BankFive to provide $11 million in loan financing to Bratt, LLC, which will use the funds to build a new 45-unit mixed-income rental housing development at 199 Barnstable Rd. The apartments will be spread across four buildings
South Windsor, CT JLL Capital Markets has arranged $9.5 million in permanent financing for Snowball Developments’ refinancing of 555 Nutmeg Rd., a fully-occupied 115,800 s/f industrial facility. JLL represented the borrower, Snowball Developments, in securing a five-year, fixed-rate loan through a life insurance company.
Bristol, CT Larew Doyle & Associates, a commercial real estate capital advisory firm, has arranged $12.6 million in long-term refinancing for Phase I of Center Square Village, a premier 52-unit Class A multifamily community. Located across from town hall, Center Square Village anchors the city’s ongoing
Groton, CT M&T Realty Capital Corp. (M&T RCC) has closed financing of a $76.2 million bridge loan for the GoodHomes Portfolio, a workforce housing project led by GoodHomes Communities in partnership with PILOT Real Estate Group. The GoodHomes Portfolio comprises five former hotel properties that have been converted into multifamily housing,
Brockton, MA Rockland Trust plans to expand its office space at 120 Liberty St. Since 2008, Rockland Trust has leased two floors in the three-story, 45,000 s/f office building. The first floor of the building was previously occupied by the IRS which relocated to 103 Commercial St. in December
Boston, MA JLL Capital Markets has arranged $8 million in financing for 15 Broad St., a 10-story, 75,000 s/f, “jewel box” office building in the city’s Financial District. JLL worked on behalf of the borrower, Broder, to secure the five-year, fixed-rate loan through MountainOne Bank.
Fairfield, CT BWE, a national commercial and multifamily mortgage banking company, has closed a $35.3 million permanent loan for Sturges Ridge of Fairfield, an assisted living and memory care community. Taylor Mokris, senior vice president of seniors housing and care at BWE, and Ryan Stoll, national director of seniors housing and care, led the financing.
Devens, MA Cushman & Wakefield has arranged $52.8 million in acquisition financing for 117 Hospital Rd., a 165,335 s/f advanced manufacturing facility. The financing was secured on behalf of the borrowers, Pivotal Manufacturing Partners and Declaration Partners. The five-year, fixed-rate loan was provided by Goldman Sachs.
Killingly, CT Worth Avenue Capital, LLC (WAC) has closed a $2.5 million loan to a New England-based real estate developer for the purchase and development of 54.6 acres of land. The land is zoned industrial and the sponsor has plans to construct two separate 100,000 s/f buildings on the property.
Weymouth, MA MountainOne has appointed Thomas Osuch as vice president, commercial loan officer. Osuch joins MountainOne Bank with more than 18 years of experience in commercial banking. In his role, Osuch’s primary focus will be to manage a growing loan portfolio,