CMK Development Partners Secures $14.35 Million Loan For 57 Exchange Street Redevelopment In Worcester

The asset involved in the transaction is located at 57 Exchange Street, Worcester, MA. This commercial property involves an acquisition loan amounting to $14,350,000. The project aims to redevelop the site into a mixed-use complex featuring 44 apartments alongside retail space.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $14,350,000
• Landlord: CMK Development Partners
• Brokers: Meghan Liddy & Chris Naff - Kelleher & Sadowsky
• Loan Type: Acquisition

Kelleher & Sadowsky arranged the financing for CMK Development Partners, facilitating the acquisition and redevelopment of the property into a multifunctional space that integrates both residential and retail components, highlighting a strategic move in downtown Worcester.