BOSTON – The CBRE Capital Markets team announced that they secured $68 million in first mortgage financing for the recapitalization of Hub 25, a 278-unit apartment community located in Boston.
The owner, Qianlong Morrissey LLC, is a premier owner and developer within the New England market.
CBRE’s Multifamily Debt & Structured Finance executive vice president, John Kelly, obtained the financing on behalf of the owner.
“It was a pleasure to work with our longstanding client, Qianlong Development, on this financing assignment,” CBRE’s Kelly stated. “CBRE’s platform and access to a wide variety of multifamily capital allowed our client to secure the best available terms from the market. We were able to align the financing terms to match Qianlong’s short- and long-term business plan for this asset.”
“We saw great value in being able to recapitalize this asset after a successful construction process,” noted Willie Guo of Qianlong Development. “We look forward to completing the stabilization process and positioning the community for long-term success.”
Hub 25 offers a beautifully landscaped courtyard with a resort-style outdoor pool, views of the city, 24-hour gym, theater, garage parking, and many more common area amenities that make luxury living a reality. Additional features include hardwood floors, vaulted ceilings, bay windows, walk-in closets, key fob entry, energy-saving features, loft-style layouts, and washer/dryer in units.
Hub 25 is adjacent to the MBTA’s JFK/UMass Red Line Commuter Rail Bus Station, which offers service to Boston’s South Station in 10 minutes. Located at 25 Morrissey Boulevard, Hub 25 also offer convenient access to Interstate 93 with direct access to downtown Boston within 10 minutes.