Chestnut Hill’s Capital Access US LLC has provided more than $38 million in financing for two New Bedford buildings.

The Lofts at Wamsutta Place has been provided $20.32 million in permanent financing. The 455,000-square-foot structure is the home of the former Wamsutta & Percale textile mill. It was transformed into 250 market rate residences with two gyms, surface and garage parking in 2008, and was also financed by Jeffrey M. Rome of Capital Access US LLC though historic tax credits as well as conventional sources.

Capital Access US LLC originated the loan for The Lofts through his correspondent relationship with KeyBank Real Estate Capital. The loan was placed with a Fannie Mae, had a 10-year term and a fixed interest rate of 5.25 percent, according to a statement.

The Lofts at Victoria Riverside in New Bedford has also received $18.3 million of financing.

The Lofts at Victoria Riverside is the home of the former Whitman Yarn textile mill. The 184,380-square-foot structure was transformed into 100 market rate residences with surface and garage parking.

Capital Access US LLC, acted as intermediary for all components of the transaction comprised of: construction, bridge and mezzanine loans. as well as the placement and sale of federal and state historic tax credits.

 

Capital Access Provides Financing For New Bedford Buildings

by Banker & Tradesman time to read: 1 min
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