BOSTON–Transwestern | RBJ announced it arranged two financing transactions totaling $78 million on behalf of NB Development Group LLC and NorthBridge CRE Advisors LLC.
“The current economic environment is very dynamic, complicating equity placement and structured financing activities,” said Transwestern | RBJ Partner Chris Skeffington. “These financing projects, while certainly very different, both benefited from involving strong, stable assets.”
The firm arranged a 10-year, long-term debt with Wells Fargo for NB Development Group’s refinancing of 15 and 20 Guest St. in Brighton, Massachusetts. The two buildings total 359,000-square-feet of office, flex and retail space and are part of Boston Landing, a 1.76 million-square-foot, mixed-use development that includes the new corporate headquarters for New Balance. Skeffington and Transwestern | RBJ Partners Steve Purpura and Chris McCauley, as well as Vice President Andrew Stone, worked on the transaction with Jim Halliday, managing director at NB Development Group, and Kevin Doyle, treasurer at New Balance.
“The refinancing of 15 and 20 Guest St. gives us greater flexibility to focus our resources on the larger Boston Landing development,” said Halliday. “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.”
For NorthBridge, Transwestern | RBJ placed a 10-year acquisition loan with Blue Hills Bank for the purchase of a two-building portfolio located at 68 – 78 Elm St. in Hopkinton, Massachusetts. Skeffington, Stone and Vice President Roy Sandeman arranged the financing, working with Dean Atkins and Greg Lauze, principals at NorthBridge.
