EagleBridge Capital Secures $25.1M Construction Loan for Apartment Building in Rhode Island

by David Cohen

PROVIDENCE, R.I. — EagleBridge Capital has arranged a $25.1 million construction loan for the development of Chestnut Commons, a six-story, 116,000-square-foot apartment building in Providence. Located at 91 Chestnut St. in downtown Providence, the property consists of 92, one- and two-bedroom units as well as 6,000 square feet of street-level retail space. Amenities will include a fitness center, rooftop terraces and covered parking. Brian D. Sheehan and Ted. M. Sidel of EagleBridge secured the financing on behalf of the undisclosed borrower. The lender was a leading Massachusetts financial institution. Terms of the financing were not disclosed.

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