BOSTON, MA: EagleBridge Capital, working exclusively on behalf of its client, Waldorf Capital, has arranged acquisition/construction/permanent mortgage financing in the amount of $11.86 million for 95 Chestnut St. located in the Knowledge District in downtown Providence, RI. The mortgage financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel who stated that the loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.
Plans call for the conversion of the six-story, 57,600 s/f, 95 Chestnut St. building from office use to 57 apartment units plus 2,500 s/f of ground floor commercial space.
The apartments will offer premium contemporary finishes with kitchens featuring the latest appliances, modern cabinetry, and ample storage space. There will be 26 one bedroom, one bath units and 31 two bedroom, two bath units. 95 Chestnut St. is located near the new Brown University Warren Alpert Medical School which opened in 2011, Brown University Molecular Medicine building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.
EagleBridge Capital is a privately-held independent commercial mortgage intermediary and advisory firm that arranges mortgage financing for office, retail, industrial, multi-family, hospitality and special-use properties.