EagleBridge Capital Arranges Financing For Downtown Providence Mixed-Use Building
EagleBridge Capital, working exclusively on behalf of its client, has arranged construction/permanent mortgage financing in the amount of $2,437,500 for 70 Kennedy Plaza located in the heart of Downtown Providence, Rhode Island.
The mortgage financing was arranged by EagleBridge principals Ted M. Sidel and Brian D. Sheehan who said that the loan was provided by a leading Massachusetts financial institution on behalf of its client, Kennedy Plaza Associates.
70 Kennnedy Plaza is a recently renovated six story retail/apartment building. The street level and basement are leased to CVS which has been a long term tenant at this location. The upper five stories will contain seventeen spacious apartments of which ten have been completed and seven units are to be built out.
The apartments offer premium contemporary finishes with kitchens featuring the latest appliances, modern cabinetry, and ample storage space. The master bath has large walk-in showers with double shower heads. Each unit has its own washer/dryer. There is a private street level apartment entry foyer with an elevator which is security keyed for each unit, and each unit is equipped with video security monitors.
70 Kennedy Plaza was originally the home of Peoples Savings Bank. Designed by Cram and Ferguson, it was the first building in Downtown Providence influenced by the international style of Modernist architecture.
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for industrial, office, and r & d buildings, shopping centers, apartments, hotels, condominiums and mixed use properties as well as special purpose buildings.
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