Bayport Closes on Mid-Construction Loan for Waterbury Conversion
Bayport Funding, a direct private bridge lender for real estate developers, has closed on a $1.85-million mid-construction loan to refinance a new, mixed-use conversion project in a prime location in Waterbury, CT’s central CBD.
Originally constructed in 1979, the repositioned and gut-renovated commercial development will deliver a three-story, elevator-serviced building spanning 23,797 square feet, including 21 apartment units and four commercial retail units. The residential units will comprise 14 three-room, one-bedroom units and seven four-room, two-bedroom units.
“Waterbury is an important Northeast city center for commerce and residential activity,” said Marcia Kaufman, CEO, Bayport Funding. “The past five years in particular has brought an uptick in housing demand for the market, and this repurposed commercial property, turned into majority residential development, is helping fill the demand for the housing shortage.”
Other News
Synergy Hosts Official Opening for Massachusetts’ Largest Office-to-Resi Conversion
Synergy held the official opening of Altitude Worcester, the largest office-to-residential conversion in Massachusetts, with a ribbon cutting ceremony with Juana Matias, the Secretary of the Massachusetts Executive Office of Housing and Livable Communities , and the City of Worcester. The event also marked the completion of 22 Elm St., the adjacent affordable homeownership community Synergy...
Learn more
MBTA Issues RFQ for Redevelopment of Lynn Commuter Parking Garage
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
Learn more
Kidder Mathews Arranges Sale of 45-Unit Multifamily in Walla Walla
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout