Webster Bank Provides $47.8M Construction Loan For Development Site In Mt. Hope

The development site located at 1761 Walton Avenue in the Mount Hope market has undergone a closed loan transaction. The loan, provided by Webster Bank, has a total amount of $47,800,000 and falls under the category of construction loans. This transaction involves the Procida Companies, who serve as the landlord for the property. The development site is a valuable asset with a building square footage (BSF) of 75,250 and consists of 103 units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $47,800,000
• Address: 1761 Walton Avenue
• Market: Mount Hope
• BSF: 75,250
• Units: 103

This closed loan transaction involves Webster Bank as the lender and the Procida Companies as the landlord. It highlights the financial support provided by Webster Bank for the construction of the development site at 1761 Walton Avenue. The Procida Companies, as the landlord, play a significant role in overseeing the project's progress and ensuring its success.