Boston Private Bank & Trust Co. has provided a $6.8-million construction-to-permanent loan for development of a 3.1-megawatt solar project in Halifax.

The electricity generated by the project will be sold to the city of Brockton under a power purchase agreement with owner NuGen Capital.

Bethany Bartlett and Beth Goldstein of Sherin and Lodgen’s solar energy practice group represented Boston Private Bank in the transaction.

Bartlett specializes in transactional real estate and includes the acquisition, disposition, leasing and financing of both developed and to-be-developed properties, including land use, zoning and permitting, as well as conservation and deed restrictions for the preservation of open space. She has a specialty concentration in representing lenders in complex financing transactions, including solar, new market and historic tax credit deals, as well as permanent financing for solar facilities. Goldstein represents buyers, sellers, developers and lenders in the sale, acquisition, financing, development and leasing of commercial real estate throughout New England.

“Sherin and Lodgen’s deep understanding of the solar space creates a collaborative atmosphere that benefits all parties to a transaction,” Dan Poydenis, managing director and general counsel of NuGen Capital, said in a statement. “As lender’s counsel, they consistently negotiate the right structure and deal for their client without compromising the business objectives of the borrower.”

Boston Private Bank Finances Halifax Solar Project

by Banker & Tradesman time to read: 1 min
0