Gomberg Financial Services, Commercial Real Estate Lender
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Recent Deals

3 South Florida Shopping Centers in
Delray Beach, Boynton Beach and Fort Lauderdale

$13.25M CMBS blanket loan for 3 Florida Shopping Centers with over 100,000 total sqft. located in Delray Beach, Ft. Lauderdale and Boynton Beach. The interest rate in the high 4's is fixed for 10 years and amortized over 30 years.
Closed October 2015

Pinecrest Square Shopping Center, Fort Lauderdale FL

71% LTV $4.1M acquisition loan for this 40,400 sqft. shopping center.  The property was only 73% occupied at closing.  The lender allowed the Seller to write a master lease bringing the occupancy to 79% to meet their underwriting requirements. The property had deferred maintenance of over $200,000, which was escrowed at closing.
Closed March 2015

360 West Shopping Center,
Richmond VA

$6.438M, 72% LTV refinance loan for this 154K sqft. mix of retail and office space.  The property was 78% occupied at closing. The interest rate of 6.37% isfixed for 10 years amortized over 25 years.
Closed February 2014

County St.,
Attleboro, MA
$2.14M, 75% LTV cash-out refinance loan for this 36-unit apartment complex.  The interest rate of 4.42% fixed for 10 years on a 30-year amortization. 
Closed April 2013

77 Green St.,
Lynn, MA

$1.4M, 75% LTV cash-out refinance loan for this 27-unit apartment building.  The interest rate of 4.52% fixed for 10 years on a 30-year amortization.  We also did original purchase financing for his loan in 2003.
Closed March 2013

28-30 Franklin St.,
Lynn, MA

$1.25M, 75% LTV cash-out refinance loan for this 24-unit apartment building.  The interest rate of 4.52% fixed for 10 years on a 30-year amortization.  We also did original purchase financing for this loan in 2003.
Closed March 2013

Riverside Drive
Lawrence MA

$1,350,000, 75% LTV cash-out refinance loan for this 24 unit apartment building. The rate is fixed for 10 years at 4.25%.
Closed June 2012

 

Kingsley Terrace
Lynn MA

$2,250,000, 75% LTV cash-out refinance loan for this 4 building portfolio containing 48 apartments. The rate is fixed for 10 yrs. in the mid 4's and amortized over 30 yrs.
Closed April 2012

 

The Lynnway and Newhall St.
Lynn MA

$2,400,000, 82% LTV purchase loan for this 5 building portfolio containing 53 apartments. The loan is fixed for 10 yrs. at 4.4% and amortized over 30 yrs.
Closed March 2012

Green and Lewis Sts.
Lynn MA

Three separate Fannie Mae refinance loans for a 24-unit, 25-unit and 30-unit apartment building.  Aggregate loan amount of $2,647,000. The interest rates were in the high 4's, fixed for 10 years, and amortized over 30 years.  
Closed December 2011

Williams St.
Chelsea MA

$450,000 cash-out refinance loan for this mixed-use condo building comprised of 5 apartments and 2 commercial units.  The interest rate of 5.75% is fixed for 5 years and amortized over 35 years.  
Closed February 2011

White's Path
South Yarmouth MA

$575,000 refinance loan for this single tenant retail property.  The interest rate of 6.5% is fixed for 5 years and amortized over 35 years.  
Closed November 2010

Vestry St.
Beverly MA

$550,500 75% LTV purchase loan for this 6-Family and 2-Family on adjoining lots. The loan amount also included 75% of the purchase and installation cost of 6 new heating systems for the 6-Family. The interest rate of 5.75% is fixed for 5 years and amortized over 25 years. 
Closed August 2010

Broadway
Revere MA

$565,000 cash-out refinance loan for this 11-unit mixed-use building in Revere MA.  The interest rate of 6% is fixed for 5 years and amortized over 35 years.  
Closed June 2010

Water St.
Danvers MA

$350,000 cash-out refinance loan for this 6-unit mixed-use building in Danvers MA.  The interest rate of 6.125% is fixed for 5 years and amortized over 35 years.  
Closed May 2010

Three Building Portfolio
Springfield MA

$675,000 cash-out refinance loan for these buildings containing 32 apartments in Springfield MA.  The interest rate of 7% is fixed for 5 yrs and amortized over 30 yrs.  
Closed September 2009

Albany Ave.
Hartford CT

$370,000 cash-out refinance loan for this 14-unit mixed-use building in Hartford CT.  The interest rate of 7.25% is fixed for 5 years and amortized over 30 years.  
Closed June 2009

Edgewood St.
Hartford CT

$420,000 cash-out refinance loan for this 18-unit apartment building in Hartford CT.  The loan is fixed for 3 years and amortized over 30 years.  
Closed January 2009


Elliot St.
Springfield MA

$1,041,300, 80% LTV purchase loan for this 27-unit apartment bldg in Springfield MA.  The loan is fixed for 10 yrs. at 6.63% and amortized over 30 yrs.  
Closed September 2008

 

Main St.
Peabody MA

$438,000 purchase loan for this 6-unit mixed-use bldg in Peabody MA.  The loan is fixed for 3 yrs. at 6.875% and amortized over 30 yrs.  
Closed September 2008


Portland St.
Haverhill MA

$700,000 cash-out refinance loan for this 16-unit apartment bldg in Haverhill MA.  The loan is fixed for 10 yrs. at 6.91% and amortized over 30 yrs.  
Closed July 2008

Roberto Clemente St.
Holyoke MA

$768,000, 80% LTV purchase loan for this 28-unit apartment bldg in Holyoke MA.  The loan is fixed for 7 yrs. at 7.795% and amortized over 30 yrs.  
Closed June 2008

 

Elm St.
West Haven CT

$640,000, 80% LTV purchase loan for this 13-unit apartment bldg in West Haven CT.  The loan is fixed for 7 yrs. at 6.7% and amortized over 30 yrs.  
Closed May 2008

 

North Main St.
Brockton MA

$531,200, 80% LTV purchase loan for this 14-unit apartment bldg.  The loan is fixed for 5 yrs. at 7.49% and amortized over 30 yrs.  
Closed April 2008

South Main St.,
Norwalk CT

$480,000 cash-out refinance loan for this 5-unit apartment building in Norwalk CT.  The loan is fixed for 7 yrs. at 5.98% and amortized over 30 yrs.  Zero points paid by borrower.
Closed March 2008

45 unit Apartment Portfolio
Hartford CT

$2,008,000, 80% LTV cash-out refinance loan for an 8-building, 45 unit apartment portfolio in Hartford CT.  The buildings were located within a half a mile radius of each other. The loan is fixed for 10 yrs. at 6.46% and amortized over 30 yrs.  Zero points paid by borrower.
Closed January 2008

Mechanic St.,
Gardiner ME

$460,000, 80% LTV cash-out refinance loan for this 19-unit apartment building in Gardiner ME.  The loan is fixed for 10 yrs. at 6.31% and amortized over 30 yrs.  Zero points paid by borrower.
Closed March 2008

Whiting St.
Lynn MA

$504,600, 80% LTV purchase loan for this 8-unit apartment bldg.  The loan is fixed for 7 yrs. at 6.34% with interest only payments for the first 2 years, and amortized over 30 yrs.  Zero points paid by borrower.
Closed December 2007

Elliot St.,
Brattleboro VT

$696,000, 80% LTV cash-out refinance loan for this mixed-use property in Brattleboro VT.  The property consists of 18 apartments above 3 street level retail spaces. The loan is fixed for 10 yrs. at 7.03% and amortized over 30 yrs. 
Closed November 2007

Broadway
Methuen MA

$432,000, 80% LTV purchase loan for this 10-unit apartment bldg.  The loan is fixed for 5 yrs. at 6.21% and amortized over 30 yrs.  
Closed November 2007

West Washington St.,
Stamford CT

$683,600 cash-out refinance loan for this 9-unit apartment bldg. The loan is fixed for 10 yrs. at 6.51% and amortized over 30 yrs. Zero points paid by borrower.   
Closed Oct.2007

Main St.,
Biddeford ME

We did two separate loans on neighboring properties. The first was a $393,000 cash-out refinance of an 8-unit apartment bldg. Part of the loan proceeds were used to purchase the 9-unit apartment bldg. next door. This loan was a $263,200, 80% LTV loan. Both loans were fixed for ten years in the mid 6's and amortized over 30 years. Zero points paid by borrower.
Closed Oct.2007

4 Building Portfolio
Lawrence MA

$960,000, 80% LTV purchase loan for this 4 building portfolio containing 26 apartments. The loan is fixed for 10 yrs. at 7.19% and amortized over 30 yrs.
Closed Oct. 2007

Harrodswood Rd.,
Frankfort KY

$575,000 cash-out refinance loan for this 28-unit apartment building. The loan is fixed for 10 yrs. at 6.55% and amortized over 30 yrs.   
Closed Sept.2007

Pembroke Ave.,
Pembroke NH

$963,000 purchase loan for this 28-unit apartment property. The seller gave the buyer a 10% 2nd mortgage which let the buyer purchase the property with just 15% down. The loan is fixed for 5 yrs. at 6.5% and amortized over 30 yrs.
Closed Sept. 2007

Chalkstone Ave.,
Providence RI

$1,000,000 purchase loan for this 8-unit retail strip.  The loan is fixed for 10 yrs. at 7.35% and amortized over 30 yrs.  
Closed August 2007


Elmwood Ave.,
Providence RI

$960,000 cash-out refinance loan for this 22-unit apartment building. The loan is fixed for 10 yrs. at 6.82% and amortized over 30 yrs.   
Closed July 2007

Chestnut Hollow Apts,
Needham MA

$4,2500,000 cash-out refinance loan for this 28-unit apartment complex.  The Interest Only loan is fixed for 10 yrs. at an interest rate in the high 5's.   
Closed June 2007

Winthrop St.,
Augusta
ME
$480,000 purchase loan for these two apartment buildings containing 22 apartments.  The loan is fixed for 10 yrs. at 7.09% and amortized over 30 yrs.  
Closed June 2007

Route 171,
Woodstock CT

$1,041,600, 80% LTV purchase loan for this 22-unit apartment complex.  The loan is fixed for 10 yrs. at 6.2% and amortized over 30 yrs.
Closed May 2007

Union St.,
Lynn MA

$2,450,000 purchase loan for this 48-unit apartment building.  The loan is fixed for 10 yrs. at 6.4% and amortized over 30 yrs.  Closed in 45 days.
Closed April 2007

Winter, Cherry & High St.,
Fall River MA

$1,950,926 combined purchase/refinance loan for these 8 bldgs. containing 54 apartments.  The loan is fixed for 10 yrs. at 5.99% and amortized over 30 yrs.
Closed March 2007

Bayview St.,
Newport VT

$652,000 combined purchase/refinance loan for these 5 bldgs. with 30 apartments.  The loan is fixed for 10 yrs. at 6.75% and amortized over 30 yrs.
Closed March 2007

Curve St.,
Millis MA

$800,000, 80% LTV purchase loan for these two bldgs. with 13 apartments.  The loan is fixed for 10 yrs. at 6% and amortized over 30 yrs.
Closed March 2007

Main St.,
Dennis Port MA

$640,000, 80% LTV purchase loan for this 7-unit mixed use building.  The loan is fixed for 10 yrs. at 5.99% and amortized over 30 yrs.
Closed March 2007

Maple Ave.,
Goffstown, NH

$2,160,000 cash-out refinance loan for this 48-unit apartment complex.  The loan is fixed for 5 yrs. at 6.2% & amortized over 30 yrs.  
Closed March 2007

Strathmore Rd.,
Brookline MA

$500,000 cash-out refinance loan for this 7-unit apartment building.  The loan is fixed for 10 yrs. at 6.79% and amortized over 30 yrs.  Zero points paid by borrower.  Non-recourse terms.
Closed March 2007

2745-2751 West Ridge Rd,
Rochester NY

$708,750,  75% LTV purchase loan for this professional office building.  The loan is fixed for 10 yrs. at 6.75% and amortized over 30 yrs.   
Closed December 2006

521 Main St,
Hyannis MA

$737,000 cash-out refinance loan for this 14-unit apartment building.  The loan is fixed for 10 yrs. at 6% and amortized over 30 yrs.
Closed December 2006

398-400 Rantoul St.
Beverly MA

$468,000, 80% LTV purchase loan for this 6-Family building.  The loan is fixed for 10 yrs. at 6.18% and amortized over 30 yrs.
Closed December 2006

758 Westfield St.
West Springfield MA

$704,000, 80% LTV cash-out refinance loan for this 14-unit apartment building.  The loan is fixed for 10 yrs. at 6.22% and amortized over 30 yrs.
Closed December 2006

Washington St,
Haverhill MA

$550,000 cash-out refinance loan for these two buildings with 11 apartments. The loan is fixed for 10 yrs. at 6.06% and amortized over 30 yrs.
Closed November 2006

West Hancock St.
Manchester NH

$624,000, 80% LTV purchase loan for this 12 unit apartment building.  The loan is fixed for 10 yrs. at 6.33% and amortized over 30 yrs.
Closed October 2006

10 Young St,
Pawtucket RI

$604,000 cash-out refinance loan for this 11 unit apartment building. The loan is fixed for 10 yrs. at 6.09% and amortized over 30 yrs.
Closed September 2006

39-41 Washington St,
Bristol CT

$1,300,000,  80% LTV purchase loan for this 28-unit apartment building.  The loan is fixed for 5 yrs. at 7.55% and amortized over 30 yrs.  Zero points paid by borrower.  Market Rents program allowed low Debt Coverage Ratio of 1.0
Closed September 2006

Park Ave. & Burnside Ave,
Hartford CT

Two purchase loans for the same borrower. Both loans are 80% LTV and fixed for 10 yrs. at 6.31%.  Loan of $792,000 for 18-unit and loan of $1,369,600 for 32-unit.  
Closed September 2006


North Cape Center,
Cape Coral FL

$935,000 cash-out refinance loan for this 8-unit retail strip. The loan is fixed for 10 yrs. at 6.84% and amortized over 25 yrs. 
Closed July 2006

Campbell St.
Kansas City MO

$1,192,000, 80% LTV purchase loan for this 60 unit apartment building.  The loan is fixed for 5 yrs. at 6.72% and amortized over 30 yrs.
Closed May 2006

Three Rivers Apartments,
Fort Wayne IN

$9,000,000, 75% LTV purchase loan for this 355 unit luxury high-rise complex.  The bridge loan is fixed for 1 yr. and then converts into a permanent DUS loan. 
Closed May 2006

197-211 Essex St.
Lynn MA

$1,980,700, 80% LTV purchase loan for this 34 unit mixed-use building.  The loan is fixed for 10 yrs. at 7.22% and amortized over 30 yrs.
Closed May 2006

380-388 Somerville Ave.
Somerville MA

$900,000 refinance loan for this 14 unit mixed-use property. The loan is fixed for 10 yrs. at 6.22% and amortized over 30 yrs.
Closed April 2006

123 East Main St.,
Merrimac MA

$665,000 refinance loan for this 4 unit retail strip. The loan is fixed for 10 yrs. at 6.83% and amortized over 25 yrs.  
Closed March 2006

West Allens Dr.,
Philadelphia PA

$600,000 refinance loan for this 54 unit apartment complex.  The loan is fixed for 10 yrs. at 6.96% and amortized over 30 yrs.  Zero points paid by borrower.  
Closed February 2006

22 High St,
Bristol CT

$612,000,  80% LTV purchase loan for this 19-unit apartment building.  The loan is fixed for 5 yrs. at 6.64% and amortized over 30 yrs.   
Closed January 2006

Union St.
Worcester MA

$2,850,000, 75% LTV purchase loan for this 22 unit retail and office building.  The loan is fixed for 10 yrs. at 6.35% and amortized over 25 yrs.
Closed January 2006

63 Lynnway,
Lynn MA

$1,008,000,  80% LTV purchase loan for this 18-unit apartment building.  The loan is fixed for 10 yrs. at 7.14% and amortized over 30 yrs.  Zero points paid by borrower.  
Closed January 2006

197 Division St.
Dennisport MA

$1,340,000, 80% LTV purchase loan for this 16-unit apartment building.  The loan is fixed for 7 yrs. at 7.325% and amortized over 30 yrs.  Zero points paid by borrower.  Market Rents program allowed low Debt Coverage Ratio of 1.0
Closed December 2005

78-80 East Grove St.
Middleboro MA

$937,500 refinance loan for this 14 unit mixed-use property.  The loan is fixed for 10 yrs. at 6.16% and amortized over 30 yrs.  
Closed December 2005

336-342 Westford St.
Lowell MA

$708,750, 75% LTV purchase loan for this 12-unit apartment building.  The loan is fixed for 5 yrs. at 6.63% and amortized over 30 yrs.  
Closed December 2005

Windmill Plaza,
West Dennis MA

$1,200,000 refinance loan for this multi-tenanted retail building + apartments.  The loan is fixed for 10 yrs. at 6.34%.  
Closed December 2005

56 High St.,
North Attleboro MA

$968,000, 80% LTV purchase loan for this 17-unit apartment bldg.  The loan is fixed for 10 yrs. at 6.81% and amortized over 30 yrs.  0 points paid by borrower.
Closed November 2005

Cummins Highway,
Mattapan MA

$2,925,000, 75% LTV cash-out refinance loan for two apartment buildings with 48 units.  The interest rate of 5.99% is fixed for 10 yrs. and amortized over 30 yrs.
Closed November 2005

353-361 Main St.
Athol MA

$536,000, 80% LTV purchase loan for this 20-unit mixed-use bldg.  The interest rate with zero points is 6.93%, and is fixed for 10 yrs.  The borrower gave the seller a 10% 2nd mortgage on a property the borrower already owned.  This allowed the borrower to purchase the property with only 10% down.
Closed September 2005

1270-1288 Pleasant St.
Fall River MA

$650,000, 65% LTV cash-out refinance loan for this 13-unit mixed-use bldg.  The 6.5% interest rate is fixed for 10 yrs. & amortized over 25 yrs.
Closed September 2005

267 Main St.
Bristol CT

$408,000, 80% LTV purchase loan for this 15-unit apartment bldg.  The interest rate with zero points = 6.83% is fixed for 10 yrs. and amortized over 25 yrs.
Closed August 2005

17-23 Chandler St. 
Worcester MA

$2,120,000, 80% LTV purchase loan for this 44-unit apartment building.  The interest rate with zero points = 6.63% is fixed for 10 years and amortized over 30 years.  
Closed July 2005

22 Warren St. 
Lynn MA

$1,202,000, 80% LTV purchase loan for this 21-unit apartment building.  The interest rate of 5.77% is fixed for 10 years and amortized over 30 years.  The loan is non-recourse and assumable.
Closed July 2005

62 units,
Lynn MA

$3,167,000, 80% LTV purchase loan for three apartment buildings.  The interest rate of 5.5% is fixed for 10 years and amortized over 30 years.  The loan is non-recourse.
Closed July 2005

60-62 Franklin St.
Westfield MA

$575,775 purchase loan for this 21-unit apartment complex.  The interest rate with zero points = 6.28%, is fixed for 10 yrs. & amortized over 30 yrs.
Closed July 2005

6 apartment buildings,
Fall River MA

Six separate 80% LTV loans for the same borrower to purchase these apartment buildings containing 42 units.  All six loans have a ten year fixed interest rate of 6.53% with zero points.  The total loan proceeds equals $2,116,000.
Closed June 2005

 

 

Talbot & Southern Ave.
Dorchester MA

$862,500,  75% LTV purchase loan for this 9-unit mixed-use building.  The interest rate of 6.25% is fixed for 5 years and amortized over 30 years.  The loan is fully assumable.
Closed May 2005

48-58 Park St. & 14-20 Otis Ave.,
Ware MA

Two purchase loans for 25 apartments with the same borrower.  Both loans were 80% LTV with an interest rate of 6.33% fixed for 5 years and amortized over 30 years.  Both loans are fully assumable.
Closed May 2005

38-42 Catherine St.,
Worcester, MA

$1,088,000 purchase loan for this 35-unit apartment building.  The start interest rate is 3.821%, and is based on the 12-MTA Index, and amortized over 30 years. 
Closed April 2005

14-16 America St.,
Chicopee, MA

$1,120,000,  80% LTV purchase loan for this 28-unit apartment building.  The interest rate with zero points = 6.84%, is fixed for 5 years and amortized over 30 years.  The loan is fully assumable.
Closed April 2005

127 Plain St.,
Fall River MA

$600,000,  80% LTV purchase loan for this 13-unit apartment building.  The interest rate with zero points = 6.76%, is fixed for 10 yrs. and amortized over 30 yrs.
Closed April 2005

Belmont Ave.
Springfield MA

$1,800,000,  80% LTV purchase loan for this 55-unit apartment complex.  The interest rate with zero points = 6.65%, is fixed for 5 years and amortized over 30 years.  The loan is fully assumable.
Closed March 2005

Main St. & White Ave. 
Brockton, MA

$963,750 75% LTV cash-out refinance loan for this 21-unit mixed-use property.  The interest rate with zero points = 6.25%, and is fixed for 5 yrs. and amortized over 30 yrs.  
Closed March 2005

Maple St. & Temple St. 
Springfield, MA

$656,000 80% LTV purchase loan for this 20-unit apartment building.  The interest rate with zero points = 6.4%, and is fixed for 5 years and amortized over 30 years.  The loan is fully assumable.
Closed March 2005

480-482 Lake Ave.
Manchester, NH

$303,750, 80% LTV purchase loan for this 7-unit apartment building.  The interest rate of 6% is fixed for 5 years and amortized over 30 years.  
Closed January 2005

1 Huntington St.
Hartford CT

$388,000, 80% LTV purchase loan for this 15-unit apartment building.  The interest rate of 6.6% is fixed for 10 years and amortized over 30 years.  The loan is fully assumable.
Closed December 2004

522 VFW Parkway,
West Roxbury, MA

$3,375,000 construction loan for a 15-unit condominium building.  The loan included both hard and soft costs, and has an interest rate of Prime + one-half, fixed for 2 yrs.  No pre-sales were required prior to construction.  The loan was placed with a local Boston area bank.
Closed November 2004

14 Thompson Drive,
Randolph, MA

$2,360,000 80% LTV purchase loan for this 24-unit apartment building.  The interest rate of 5.95% is fixed for 5 years and amortized over 30 years.  After the fixed 5-yr. period, the rate is based on the 6-month LIBOR index.  The loan is assumable.
Closed November 2004

223-225 Charles St.,
Cambridge, MA

$1,000,000 cash-out refinance loan for this 6-family building.  The interest rate of 5.35% is fixed for 5 years and amortized over 30 years.  
Closed October 2004

20 Park St. & 34-38 Hanover St.,
Lynn, MA

Two separate 80% LTV purchase loans for the same borrower.   Loan #1 is for $2,368,000for the purchase of 36 units.  Loan #2 is for $2,000,000for the purchase of 30.  Both loans are fixed for 10 years in the mid 5's and are non-recourse.
Closed October 2004

3 buildings,
Holyoke, MA

$920,000, 80% LTV purchase loan for 48 apartments.  The seller took back a 10% 2nd mortgage allowing the buyer to purchase the property with just 10% down.  The interest rate of 6.125% is fixed for 5 years.
Closed August 2004

144-146 Willow St. 
Waltham, MA

$2,010,000, 75% LTV cash-out refinance loan for this 20 unit apartment building.  The interest rate of 6.03% is fixed for 10 years and amortized over 30 years.  
Closed July 2004

Jaffwood Apartments,
Jaffrey, NH

$1,368,000 cash-out refinance loan for this 48-unit apartment bldg.  The interest rate of 6.41% is fixed for 10 years.
Closed June 2004

7 Oak St.,
Peabody, MA

$575,000 cash-out refinance loan for this 12-unit apt. building.  The interest rate of 4.83% is fixed for 10 yrs. and amortized over 30 yrs.  This is a non-recourse loan with an assumable mortgage.
Closed May 2004

Henry Terrace,
Worcester, MA

$4,000,000 cash-out refinance loan for this 74-unit apartment complex.  The interest rate of 6.25% is fixed for 10 years.
Closed May 2004

127-135 Westford St.,
Lowell, MA

$845,000 cash-out refinance loan for this 17-unit apartment building.  The interest rate of 5.88% is fixed for 10 years and amortized over 30 years.
Closed March 2004

99 Warren Ave.,
Brockton, MA

$900,000 purchase loan for this Lodging House consisting of 40 rooms and 4 studio apts.  The interest rate of 7.25% is fixed for 2 years.  The purchase price was $1,345,000.
Closed January 2004

106 Wrentham St.,
Dorchester, MA

$1,200,000, 75% LTV cash-out refinance loan for this 16-unit apartment building.  The interest rate of 5.6% is fixed for 10 years and amortized over 30 years.  
Closed January 2004

100 Concord St.,
Framingham, MA

$2,127,000 cash-out refinance loan for this 40,000 square foot office and retail building.  The loan is fixed for 5 years with a rate of 6.5%.
Closed December 2003

175 & 262-268 Ocean St.,
Lynn, MA

Two refinance loans totaling $5,389,000.  The subject properties contain 96 residential units.  Both loans are fixed for 10 years and amortized over 30 years.
Closed October 2003

Meadowbrook Apartments,
Corning, NY

Purchase price of this 100-unit housing complex was $2.95M.  The loan of $2.24M is fixed for 10 years at 6.06% and amortized over 30 years.
Closed September 2003

221 Park St.,
North Attleboro, MA

$1.2M refinance of this 24-unit apt. building.  The note is fixed for 10 years at an interest rate of 5.07%, and amortized over 30 years.  The loan is non-recourse. 
Closed July 2003

488-498 Hanover St.,
Manchester, NH

This elegant 12-unit apartment building was purchased for $1,170,000.  The loan amount was $728,000 and fixed for 10 years at an interest rate in the high 5's.
Closed May 2003

77 Green St.,
Lynn, MA

$1.36M, 80% LTV 1st mortgage for the purchase of this 27-unit apartment building.  The interest rate is below 5.5% and fixed for 10 years on a 25-year amortization.  The loan is non-recourse.
Closed March 2003

 

 

600 Main St.,
Worcester, MA

This high-rise apartment building was purchased for $14.5M.  The buyer assumed the existing mortgage of $8.2M and we arranged a supplemental loan of $2.54M, which has an interest rate of 6.25% and is fixed for 10 years and amortized over 30 years.  In order to raise the necessary funds for our client to complete the transaction, we also arranged 2 cash-out refinances and a $5M bridge loan.
Closed April 2003