Reported Oct 23, 2026 · Source: Banker & Tradesman
The operators of the 112-year-old Somerville Theatre in Davis Square acquired the property for $12 million from the Fraiman family. Longtime theatre staff formed CSB Theatres Inc. to run the venue in 2025, and co-owner Ian Brownell served as a private lender. The 840-seat venue includes three screens. Source: Banker & Tradesman.
Summarized from the article; the quoted lines below are from the article itself.
Read the full report at Banker & Tradesman. What the article says:
Independent cinema has a future in Davis Square following the 112-year-old Somerville Theatre’s acquisition by its operators.
Operators Buy Somerville Theatre, Launch Fundraising Campaign
The new owners have launched a GoFundMe campaign to help pay off debt tied to the $12 million purchase.
The longtime owners of the property, the Fraiman family, listed it for sale in July, prompting the current operators to pursue an acquisition.
Longtime theatre staff formed CSB Theatres Inc. to run the property in 2025 and signed a multi-year lease agreement.
Co-owner Ian Brownell, who is a producer and director, and an undisclosed benefactor and theater patron served as private lenders for the acquisition.
The 840-seat venue includes three screens and hosted performances spanning the vaudeville era to modern-day cinema.
Article date: 2026-10-26T15:04:31+00:00
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