Recent Summer Transactions: Multi-Million Dollar Financing Deals
UTR attorneys Scott Ritch and Troy Costa recently successfully represented some of their banking/financing clients in the following multi-million dollar commercial lending transactions:
1. An SBA 7(a) secured line to term loan and a related commercial line to term loan by a national banking association in connection with a $6,700,000 project for the acquisition of certain historic mill buildings located in Fall River, Massachusetts and for the construction of improvements.
2. A construction to permanent loan by a Massachusetts bank in connection with a $4,850,000 project for the construction of a new residential town house condominium in Jamestown, Rhode Island.
3. An SBA 7(a) secured term loan by a Massachusetts bank in connection with a $4,400,000 business acquisition in Cranston, Rhode Island.
4. A commercial line to term loan by a national banking association to an owners’ association of a condominium in connection with a $5,000,000 project for the construction of certain improvements to the existing condominium located in Dartmouth, Massachusetts. The financing was secured primarily by the condominium fees and assessments.
5. An SBA 7(a) secured term loan, a related commercial mortgage loan and a bridge loan to SBA 504 financing by a Massachusetts bank in connection with a $4,700,000 business acquisition and real estate acquisition in Providence and Warwick, Rhode Island.
At UTR, we represent financial institutions and other lenders, including national, regional and local banks, as well as developers, business owners and other borrowers in all types of commercial transactions. Our attorneys have experience documenting and negotiating commercial transactions, ranging from complex, multi-million dollar transactions to smaller deals. We are known for our ability to bring complex loans to fruition in a highly efficient manner.