Updated Oct 21, 2026
Pebb Capital Secures $60 Million Loan From Bentall Green Oak For Mixed-Use Development In Providence
33 Bassett Street
$60,000,000
$313/SF
Building Size
191,556 SF
Asset Type
Mixed-use
Closing
Oct 5, 2026
About this deal
AI
The asset involved is a mixed-use development located at 33 Bassett Street in Providence, featuring a total square footage of 191,556. The development consists of 198 apartments along with approximately 3,500 square feet of retail space. The project is valued at $85 million, with a construction loan of $60 million secured to facilitate its advancement.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $60,000,000
- Address: 33 Bassett Street
- Market: Providence
- Asset Square Footage: 191,556
- Lender: Bentall Green Oak (BGO)
- Borrower: Pebb Capital
- Loan Type: Construction
- Development Completion Anticipated: Summer 2028
The loan secured by Pebb Capital from Bentall Green Oak is aimed at supporting the vertical construction set to commence in November 2026. The development is strategically located adjacent to the Brown Medical School, Hospital & Life Sciences Center, highlighting its potential integration within the community.
On the Map
$60,000,000
$313/SF
Mixed-use
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Players
Providence Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93