EagleBridge Arranges $25.15 Million Financing for Downtown Providence Apartments

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BOSTON–EagleBridge Capital, has arranged construction/permanent mortgage financing in the amount of $25,150,000 for Chestnut Commons located at 91 Chestnut Street in the Innovation and Design District and near the historic Jewelry District in Downtown Providence, Rhode Island.

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted. M. Sidel who stated that the loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.

Chestnut Commons is a six-story, 116,000 square foot, residential building consisting of 92 one and two bedroom residential units, 6000 square feet of street-level retail space plus 5000 square feet of publicly accessible green space. Amenities will include a fitness center, resident accessible roof terraces, and covered parking. The apartments will offer premium contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and ample storage space.

The new mixed-use community is located adjacent to 95 Chestnut Street, a six-story, 58,500 square foot, residential building consisting of 59 apartment units plus ground floor commercial space which was recently redeveloped by the developer of Chestnut Commons.

Located nearby are the Brown University Warren Alpert Medical School, The Brown University Molecular Medicine Building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.