M&T Bank Arranges $105M Construction Loan for Condominium Conversion in Boston

BOSTON — M&T Bank has arranged a $105 million construction loan for the development of 138-unit residential condominium project in Boston. Located at 100 Shawmut Ave., the 67,733-square-foot property is currently a vacant, class B office building. The redevelopment will incorporate the existing six-story structure with an expansion of a new 142,000-square-foot building that will rise an additional seven stories. The building’s 1930s façade will remain as is. The development will also include 110 parking spaces. M&T Bank secured the financing on behalf of borrower, The Davis Cos., through a syndicated senior construction loan from four local banks. The banks included Berkshire Bank, HarborOne Bank, Needham Bank, and Bank of New England. Terms of the financing were not disclosed.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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