The Builders of Color Coalition (BCC), African American Real Estate Professionals, Federal Home Loan Bank of Boston, MassHousing, and the Massachusetts Community & Banking Council co-hosted a groundbreaking forum, sponsored by The Grossman Companies, on commercial real estate development financing, to increase access to capital among minority developers by connecting them with a range of financial institutions — predominantly banks — seeking to diversify their client portfolios.
On Wednesday, April 3rd, Tod McGrath, Vice President of Finance at Boston Properties and MIT Lecturer, opened the event with a Capital Stack: 101 lecture. The main event, a panel discussion on CRE financing opportunities and barriers, featured Ken Willis, First Vice President, Federal Home Loan Bank of Boston; Sarah Lamitie, Senior Vice President & Community Investment Officer, Boston Private; Charles Smith, Senior Vice President of Small Business Administration Financing, Eastern Bank; and Marianna McCormick, Vice President of Business Development, MassDevelopment. The panel was moderated by Dave Madan, Partner, Boston Investments and Ronette Slamin, BCC Steering Board.
Additional financing institutions included Boston Private, Brookline Bank, DCU, Leader Bank, and Needham Bank.