Transwestern | RBJ has arranged two financings totaling $78 million in the state of Massachusetts, the firm announced today.
Wells Fargo provided a 10-year loan for NB Development Group’s refinancing of 15 and 20 Guest Street in Brighton, Massachusetts. The two buildings combine for 359,000 sq feet of office, flex and retail space, part of Boston Landing, a 1.76 million sq ft, mixed-use development that includes the new corporate headquarters for New Balance.
“The refinancing of 15 and 20 Guest Street gives us greater flexibility to focus our resources on the larger Boston Landing development,” said Jim Halliday, managing director at NB Development Group, in a prepared statement. “The combination of commercial, high-end residential, retail, sports and hospitality space, coupled with credit-quality tenants, makes Boston Landing the premier mixed-use development in all of Greater Boston.”
The other loan, originated by Blue Hills Bank, is a 10-year acquisition loan for NorthBridge CRE Advisors’ purchase of a two-building portfolio at 68 – 78 Elm Street in Hopkinton, Massachusetts.
“The current economic environment is very dynamic, complicating equity placement and structured financing activities,” added Transwestern | RBJ Partner Chris Skeffington. “These financing projects, while certainly very different, both benefited from involving strong, stable assets.”
Transwestern | RBJ was established in after Transwestern’s Houston headquarters acquired the former Richards Barry Joyce & Partners (RBJ), based in Boston, establishing its 34th US office and giving the firm a stronger presence in the region.
Transwestern | RBJ declined to comment further on the loans.