Cordeiro Properties has successfully secured nearly $10 million in financing from Rockland Trust to revitalize the Merrill Building, a 146-year-old former mill located in Fall River, MA. The historic building, spanning over 30,937 square feet and situated at 66 Troy St., will undergo renovations to transform its top three floors into 36 upscale residential units.
According to James Joyce, Vice President and Commercial Loan Officer at Rockland Trust, the bank has been collaborating with Cordeiro Properties for several years on various restoration projects throughout Fall River. This latest endeavor is part of their ongoing efforts to address the growing demand for housing options in the South Coast region.
Since acquiring ownership of the property back in 1999, Cordeiro Properties has remained committed to preserving its historical significance. As such,the first floor will continue being occupied by long-term tenants Southeast Center for Independent Living under their existing lease agreement. This project marks Cordeiro’s fifth successful rehabilitation project and is expected to be completed by2025.
The article was originally published on Connect CRE.
