Property Types Multi-Family
Bridge Loan Paves Way for Conversion of Retail Property to Residential in Boston Area
May 5, 2008

Boston-based Abbott Real Estate Development has secured a  bridge loan for its planned conversion of a former Wal-Mart store in Weymouth, Mass., into a 150-unit apartment complex. Equibase Capital Group L.L.C. provided the financing, which will be utilized for acquisition and redevelopment purposes, as well as for zoning of the nearly six-acre site located about 40 miles from Boston. The project, Abbott Residences at Cordage Park, will be a transit-oriented development.

 
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