2005 Transactions
Tremont Provides $3,100,000
Bridge Loan on Vacant Building
David
Ross, a Managing Director in Tremont's Boston office closed
a $3,110,000 bridge loan for 10 Burlington Avenue LLC, the
owner of 10 Burlington Avenue, in Wilmington, MA. The loan,
which recapitalized the property, was provided by Tremont's
new bridge loan and mezzanine loan fund, Boylston Investment
Fund MMV, LLC. Tremont's new fund provides bridge loan and
mezzanine loan opportunities nationwide from $3MM to $100MM.
Currently, 10 Burlington Avenue is improved
by a vacant 80,000 SF industrial building that was previously
occupied by the Diamond Salt Company. The developer is working
with the local community and plans to replace the industrial
building with residential housing to take advantage of the
property's proximity to Wilmington's town center and the
commuter train. Ross worked with the developer and Tremont's
Boylston Investment Fund to structure the bridge loan in
a manner to satisfy the needs of the newly created joint
venture.
For additional information on this transaction,
please contact:
David Ross
Managing Director
Email: dross@tremontcapital.com
Phone: 617.867.0700 x773
