September 12, 2017

Inbox [Sept. 13]: News and notes from The Grid, WPI, Bancroft School, Women in Action, Davis Art Gallery and City to Saddle

Print More

Courtesy of Cushman & Wakefield

Bancroft on the Grid, 50 Franklin St.

Have news you or your group would like to share? Let us know by emailing it to Be sure to include a link to the full release on your site or Facebook page so we can include it and send Sun members your way.

MG2 Group secures $38M for Grid properties

The MG2 Group, owners of the Grid District, have secured a $38 million floating-rate loan for Bancroft on the Grid and Portland on the Grid, two adjacent multifamily properties with commercial space along Worcester Common.

The loan will facilitate the assets’ transition to luxury apartments amid Worcester’s revitalization and provide necessary capital to build out two high-end restaurant spaces at ground level.

“John McGrail and MG2 have been pioneers in Worcester dating back more than a decade, and Ladder Capital took the time to understand just how much is going on in the local market,” Tom Sullivan, executive director of Cushman & Wakefield’s Boston debt practice, said. “This loan will allow MG2 to fulfill the vision it has had for these assets and turn them into two of Worcester’s premier housing and entertainment destinations.”

Please log in or subscribe to read the entire story. Only $2.
Worcester Sun print edition coming Dec. 9!

Comments are closed.