|
The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Cambridge Savings Bank Supports Redevelopment, Expansion of Innes Apartments as Lead Bank in $93MM Construction Loan
Thursday, December 8, 2022
|
Lenders/Participants
|
Cambridge Savings Bank [Lender]
|
|
Structure
|
Construction Loan
|
|
Amount
|
$93.000
Million
|
|
Borrower(s)
|
John M. Corcoran & Company and Joseph J. Corcoran Company
|
|
Description
|
$93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company, in partnership with real estate private equity firm Marcus Partners. The redevelopment team will utilize the capital to replace the eight existing buildings at the Innes Apartments constructed in the 1950’s and build a 350,000 square-foot mixed use community in its place.
|
|
Industry
|
Real Estate
|
|
Location
|
MA
|
| Related Tags |
Commercial Real Estate, Real Estate
|
ABL Advisor
Deal Tables
2024
|
|
|
|