Eastern Bank Announces Latest Construction Loans for Arista Development, LLCJuly 24, 2019
BOSTON, July 24, 2019 – Eastern Bank, America’s oldest and largest mutual bank, is pleased to announce three construction loans totaling more than $8 million to Norwood-based developer Arista Development, LLC (Arista) for ground-up construction of free standing retail properties in Framingham, MA, Bedford, NH, and Providence, RI.
Founded in 2003 and a customer of Eastern Bank since 2006, Arista is a commercial real estate developer with over 80 development projects completed. Its developments include shopping centers, free standing retail, gas and convenience stores, and mixed use multi-family residential projects. Since 2006, Eastern has provided more than $100 million in construction financing to Arista for a range of build-to-suit buildings leased to a variety of national and local retailers in communities throughout the Northeast, Mid-Atlantic, and Southeastern United States.
“We approach each development project reflecting our values of integrity, trust and experience,” said Greg Botsivales, Principal of Arista. “Eastern shares these values and has been great to work with as our portfolio and business have expanded.”
The Commercial Real Estate team advising Arista includes Executive Vice President, Senior Commercial Banking Officer Matthew Osborne, Senior Vice President Michael McCarthy and Portfolio Manager Olivia Gough.
About Eastern Bank
Founded in 1818, Boston-based Eastern Bank is America’s oldest and largest mutual bank, with over $11 billion in assets and more than 115 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is known for its outspoken advocacy and community support that has exceeded more than $125 million in charitable giving since 1999. An inclusive company, Eastern employs 1,900+ deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram.
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