REBusinessOnline

Cornerstone Realty Capital Arranges $3.4M Refinancing for Apartment, Industrial Portfolio in Massachusetts

MALDEN, MASS. — Cornerstone Realty Capital has arranged the $3.4 million refinancing for a two-property portfolio in Malden. The two properties include a nine-unit apartment building and a two-story industrial building on Maplewood Street. The industrial facility was renovated in 2004 and includes seven commercial units. Andrew Saccone of Cornerstone secured the fixed-rate financing on behalf of an undisclosed borrower. Terms of the financing included an interest-only payment period followed …

Fantini & Gorga Arranges $3M Acquisition Loan for Ground-Leased Gas Station in Massachusetts

PLYMOUTH, MASS. — Fantini & Gorga has arranged a $3 million loan for the purchase of a gas station ground lease in Plymouth. Located at 7 Home Depot Drive, the property is currently occupied by a Shell gas station. The property also includes a car wash and convenience store. Casimir Groblewski and Jon Garcia of Fantini & Gorga secured the financing for the borrower, 7 Home Depot Drive LLC, through a Massachusetts based financial institution. Terms of the loan were undisclosed. The …

NKF Capital Markets Brokers $222M Sale of Office Building in Boston

BOSTON — NKF Capital Markets has brokered the $222 million sale of a 304,178-square-foot office building in Boston. Located at 200 State St., the property is currently 96 percent leased to a 21-tenant roster that includes Beacon Health Options, TD Bank, FTI Consulting, Beacon Capital Partners and TIFF Investment Management. Edward Maher, Matthew Pullen and James Tribble of NKF’s Boston Capital Markets team represented the seller, GLL Real Estate Partners, in the transaction. The buyer was …

CBRE Secures $120.2M Refinancing for Multifamily Community in Cambridge

CAMBRIDGE, MASS. — CBRE has secured a $120.2 million loan for the refinancing of Zinc Apartments, a 392-unit multifamily property in Cambridge. Located at 22 Water St., the high-rise community features an outdoor resident lounge, a 15,000-square-foot garden terrace, fitness center and 24-hour concierge service. Nate Sittema and Kristen Reilley of CBRE represented the borrower, Greystar Real Estate Partners, in securing a 10-year, fixed-rate loan through Freddie

EagleBridge Capital Arranges $2.7M Acquisition Financing for Retail Property Near Boston

MARBOROUGH, MASS. — EagleBridge Capital has arranged $2.7 million in acquisition financing for The Learning Experience, a 10,000-square-foot childcare learning center in Marborough. Located at 70 Simarano Drive, the single tenant leases the property on a long-term basis. The Learning Center has more than 300 locations across the country. Brian D. Sheehan and Ted M. Sidel of EagleBridge secured financing for the undisclosed borrower through a leading Massachusetts thrift

KeyPoint Partners Orchestrates $3.4M Sale of Retail Center in Metro Boston

WEST BRIDGEWATER, MASS. — KeyPoint Partners has negotiated the $3.4 million sale of West Bridgewater Plaza, a retail property in West Bridgewater. The 133,000-square-foot retail center is located off Route 28. Don Mace of KeyPoint represented the buyer, the owner and operator of indoor entertainment concept FunZ. The buyer plans to open a FunZ location in the former Shaw’s space at the

Cushman & Wakefield Advises on $264M, 17-Community Portfolio Sale for HCP

BOSTON — Cushman & Wakefield Senior Housing Capital Markets, acting as advisor to HCP Inc., has arranged the sale of a portfolio of seniors housing communities managed by Brookdale Senior Living. HCP agreed to sell the 17 Brookdale-managed properties to funds managed by affiliates of Apollo Global Management LLC (NYSE: APO) for $264 million. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, James Dooley and Sam

NKF Brokers Sale of Two Distribution Facilities in Massachusetts

MIDDLEBOROUGH, MASS. — NKF has brokered the sale of 19 Leona Drive and 139 Campanelli Drive in Middleborough. The two distribution facilities were sold for an undisclosed price. 19 Leona Drive currently serves as the corporate headquarters for Sager Electronics, an electronic components distributor. 139 Campanelli Drive serves as a distribution center for Stop & Shop, a regional grocer with more than 400 stores across New England, New York and New Jersey. Both properties are located …

Capstone Development Opens Three Student Housing Communities in California, Seattle Totaling 980 Beds

BIRMINGHAM, ALA. — Birmingham-based Capstone Development Partners has opened five on-campus student housing communities totaling 3,000 beds, including two in California and one in Seattle. Development costs reached $350 million, $150 million of which was financed using private equity, with the remaining $200 million financed through a 501(c)3 nonprofit owner or a university using tax-exempt debt. Properties include Montage on College at San Diego State University in San Diego; Calaveras …

MP Boston Begins $1.35B Mixed-Use Tower in Downtown Boston, City’s Largest Private Investment in History

BOSTON — MP Boston, a local mixed-use and residential developer, broke ground Wednesday on Winthrop Center in downtown Boston. The $1.35 billion mixed-use development represents the largest private investment for a single project in Boston’s history. The site was formerly owned by the City of Boston and housed the Winthrop Square Garage. Set for a spring 2022 completion, Winthrop Center will feature 750,000 square feet of office space, 420 condominiums, retail and restaurants, as well as …

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