Maine Street Capital worked with a long standing client with significant multifamily holdings to financing this 84 unit apartment property in Wilmington, North Carolina. The investment was part of the client’s broader strategy to expand beyond their traditional home in the northeast into high-growth markets in the south. The deal featured three adjacent apartment buildings…
Starting in the Summer of 2020, Maine Street Capital partnered with the principals of Fore Points Marina on Portland’s Eastern Waterfront to refinance the property. The marina is located in the heart of an area of explosive growth. Current developments underway include new headquarters for Sun Life Financial, Wex and Covetrus as well as the…
Working with a Portland landlord and developer with a large portfolio of multifamily assets, Maine Street Capital created a refinancing solution for this historic downtown property. The Lafayette was originally a 250-room luxury hotel built in 1903 by James Cunningham, a survivor of the Irish famine who came to Portland at the age of 24…
Maine Street Capital worked with a local developer to finance the rehabilitation of these two historic buildings in the quaint town of Hallowell, ME. The Stevens and Erskine buildings are part of the former Maine Industrial School for Girls campus near Augusta. In 2019, the ongoing development of this historic campus was honored by Maine…
Maine Street Capital worked with a prominent Portland landlord and developer to refinance this downtown, 62-unit multifamily property. Built around 1900 as a hotel, the property today retains many distinct historical features including its striking 6-story brick façade. Working with a regional lender, MSC secured 10-year financing in the mid 2% range in addition to…
Maine Street Capital created a financing structure for the acquisition and rehabilitation of this historic, Biddeford mill property. The RIverdam Mill complex consists of 90,000+ square feet of space spread across two buildings on the banks of the Saco River. Riverdam’s original building was built in 1842 and is known as Machine Shop #1. Five…
82 Hanover is a 40,000+/- square foot historic former industrial building in Portland’s Bayside Neighborhood. In the mid 1800s, much of what is now Portland’s Bayside neighborhood including the 82 Hanover site was within the back cover tidal zone. Over the following decades, the area was gradually filled in and became an important industrial center…
A well-known Portland developer with a strong track record of successful projects hired Maine Street Capital to manage the refinance of the Hiawatha. The Hiawatha is Portland’s premier class-A apartment property. Working with the owner and the management team of this 139-unit property, MSC developed a refinancing strategy and received a number of strong bids…
100 State street is a 169-unit, affordable housing property for the elderly near downtown Portland. With well-maintained gardens and cheerful interiors, 100 State Street is a desirable home for residents. Working with the not-for-profit owner of 100 State Street, Maine Street Capital developed and executed a strategy to refinance this property. MSC worked extensively with…
Working together with Quince & Co, Maine Street Capital arranged financing for the acquisition of a 9,500 square foot historic mill building on Saco Island. Quince & Co, a hand-knitting yarn and knitwear design company, was looking to acquire this property to operate as a warehouse and distribution facility. Maine Street Capital created a financing…
Crescent Heights is a 44-bed / 11-unit lodging facility built in a partnership between a local developer and the Maine Medical Center. Built in 2010, the property is LEED certified and provides convenient housing for medical students. In 2018 Maine Street Capital worked together with the developer on refinancing the property and secured competitive long-term…
Maine Street Capital worked with a well-known Maine developer to organize financing for this 1,000,000+/- square foot historic mill campus. After working with the developer to understand the project and his vision, we completed a thorough underwriting of the deal and improved the financing terms on the existing loans in addition to securing additional funds…
To take advantage of historically low interest rates in the summer of 2019, Maine Street Capital worked with a Portland-based apartment owner to refinance this large multifamily portfolio. Spread across Portland and South Portland, this project involved 263 apartment units and 25 separate buildings. Leveraging the portfolio’s low LTV and high DSCR, we secured multiple…
Partnering with a prominent Portland landlord and developer, Maine Street Capital created a strong financing solution for this large multifamily transaction. At the time of acquisition, Bayside village was a 400+ bed student housing property. Financing the project involved securing funding for 80% of both the $20.85 million acquisition of the property and $11 million…
Maine Street Capital partnered with a local apartment owner to finance the acquisition of this property. 11 Grant Street is an 11-unit located in Portland’s Parkside neighborhood. Maine Street Capital put together a competitive financing solution with a local lender to fund acquisition and renovation costs for the borrower.
Maine Street Capital helped negotiate the financing on the Class A, 136-unit, RiverPlace Apartments in South Portland, Maine. Our mission was to secure a low 10-year fixed rate with a 30-year amortization without recourse to the sponsors. After considering a range of local and national financing options, we identified a regional lender and closed on…
Maine Street Capital began working on the refinancing of Autumn Woods at the beginning of the 5 phase new construction development. Working closely with the construction lender and the developer, the team developed the plan to refinance into an agency execution early on. Maine Street Capital assessed all permanent lending options, settled on a Fannie…
Maine Street Capital played a key role in the acquisition for this 35,550 square foot manufacturing and office facility in Saco, ME. In addition to arranging the financing, which included 2 different lenders, MSC also led the negotiations with the tenants, leases, dealings with the seller and sales broker and coordination of attorneys and closing…
Maine Street Capital structured and closed the acquisition financing for this 92 unit multifamily property in downtown Portland. The loan funded significant improvement dollars while securing a long term, low interest rate loan on a 30 year amortization.
Maine Street Capital arranged the financing on this out-of-state Hannaford anchored shopping center. The non-recourse loan was structured with a 2 phase draw schedule contemplating the as-is value for draw one, and the as-complete value for the second draw upon completion of the 21,000 square foot TJ Maxx retail space being built. The borrower had…
Maine Street Capital worked with the out of state investor to recapitalize this 326 unit portfolio for property improvements. We were able to achieve a long-term fixed rate, 30 year amortization on a non-recourse basis with an Agency execution.
Maine Street Capital structured the acquisition, construction and long term permanent financing for the Schlotterbeck & Foss property. This Historic building, now called Schlotterbeck Block in the Bayside neighborhood, is undergoing a conversion from manufacturing space into 55 beautifully appointed micro-units. Both State and Federal Historic credits assisted with the equity for the project.
Maine Street Capital handled the acquisition financing for 54 units in Yarmouth, ME for an out of state investor. The loan was structured with a long-term fixed rate, 30 year amortization, and was closed on a non-recourse basis.
After a significant renovation of this mixed use property in the Old Port, MSC was able to recapitalize the borrower and structure a low 10 year fixed rate on a 25 year amortization using a swap execution.
Maine Street Capital arranged the refinancing and recapitalizing for this 58 unit multifamily with beautiful views of Casco Bay in Portland. We structured the debt with a long term fixed rate loan and a flexible prepayment penalty on a 30 year amortization.
Maine Street Capital financed this 6 building, 40 unit assemblage in downtown Portland, with a non-recourse loan, providing capital to the borrower for property improvements. The loan was structured with a unique “tiered” rate structure with a super low introductory rate for 2 years followed by 5 years at a low fixed rate. In addition,…
Maine Street Capital structured a non-recourse, super low, long term fixed rate with a 30 year amortization through a regional bank on this Class A apartment tower in Downtown Portland.
