Commercial Finance

We represented a holding company client in the sale of 49 percent of its stock to its ESOP and a loan transaction to fund it, allowing stockholders to withdraw substantial equity without losing management control.

We represented a regional bank in a $2.2 million loan to a Rhode Island realty company, secured by a leasehold mortgage on property subject to a complex ownership structure due to environmental issues.

We helped a Massachusetts manufacturer obtain some $4 million in secured financing from a regional bank through the issuance of revenue bonds by the Massachusetts Development Finance Agency.

Our AP&S team aided a regional bank in its acquisition of some $20 million in secured revolving loans that had been provided to a Rhode Island textile manufacturer.

We helped a nursing home partnership get a $1 million mortgage loan to finance acquiring a partnership interest.

We successfully assisted a convenience store/gas station joint venture in obtaining from a regional bank a $10 million revolving line of credit, and later a $14 million term loan to acquire additional motor fuel facilities, all secured by mortgages on its various locations in the State of Rhode Island.

We represented a regional bank in providing a letter of credit to a Massachusetts manufacturer to enhance the credit for approximately $7.5 million in revenue bonds issued for its benefit by the Massachusetts Development Finance Agency.

APS attorneys represented a regional bank in connection with a secured line of credit to a Rhode Island manufacturer and a secured term loan to an affiliated realty company that was cross-collateralized and cross-defaulted.

We represented a regional bank in connection with financing provided to a food wholesaler through a secured term loan to its affiliated realty company.

We represented a high-end golf club in a $12 million dollar loan to finance construction of a PGA golf course.

We represented the borrower in a $6.4 million dollar loan to Newbury New England, an age-restricted facility with an assisted living component.

We represented Washington Trust Bank in an $8 million dollar loan in compliance with the placement of capital securities.

We represented a client in the purchase and financing of two shopping centers in Massachusetts in an $8 million dollar deal.

We represented the borrower in a $5.7 million dollar refinancing of two nursing home.