Updated Oct 29, 2026
Pebb Capital Secures $60 Million Construction Loan From Bentall Green Oak For Mixed-Use Project
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
A construction loan of $60 million has been secured for an $85 million mixed-use development located at 33 Bassett Street in Providence. This asset comprises 191,556 square feet and includes 198 apartments along with approximately 3,500 square feet of retail space. The site is positioned next to the Brown Medical School, Hospital & Life Sciences Center.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $60,000,000
- Lender: Bentall Green Oak
- Borrower: Pebb Capital
- Vertical construction start date: November 2026
- Projected delivery date: Summer 2028
Pebb Capital is responsible for advancing the development project, collaborating with Bentall Green Oak as the lender. The development will feature a mix of residential and retail offerings aimed at enhancing the community surrounding the location.
On the Map
$60,000,000
$313/SF
Mixed-use
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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