Melody & Company completes triple feat

Real Estate Weekly, Jan 19, 2005

The Boston office of L.J. Melody & Company., the real estate banking arm of CB Richard Ellis, arranged first mortgage financing for three properties to the tune of $34.6 million nationally, in Peabody, Mass., Harris county, Texas and Woonsocket, R.I.

First mortgage financing in the amount of $8.6 million was arranged for 637 Lowell St. in Peabody, Mass.

The property is fully-leased and anchored by one of Hannaford Brothers largest grocery stores. Other tenants at the building include TJ Maxx and CVS Pharmacy. The center features onsite parking for 613 vehicles.

Sean McKenna secured funding for this transaction.

First mortgage financing in the amount of $9.55 million was arranged for Eagle Crest Apartments, a 200-unit garden style apartment complexin Texas.

Prudential Mortgage Capital Company, a Fannie Mae DUS lender, provided the funding on behalf of EC Apartments Limited Partnership. SMC Holding LLC, the general partner of the borrowing entity, is an affiliate of Boston-based SMC Management Corp.

Michael Prakken secured funding for this transaction.

A first mortgage, non-revolving line of credit in the amount of $16.5 million was arranged for 100 Mill St., a new condominium complex in Woonsocket, R.I., developed by SMC Holding LLC

Michael Prakken secured funding for the transaction with Banknorth Massachusetts.