BOSTON — Avison Young Capital Markets has arranged a $47 million bridge loan for the gut renovation and repositioning of the Custom House Block and John Hancock Counting House located at 62-70 Long Wharf and 58-60 Long Wharf, respectively, in Boston. David Krasnoff and Michael Buckley of Avison Young secured the financing for the borrower, Capital Properties. The borrower plans to fully rehabilitate the properties, including converting the Custom House Block building into a modernized office space. The John Hancock Counting House is occupied by the Chart House restaurant.
NEW BEDFORD, MASS. — An entity operated by Charterhouse Development Corp. has purchased a retail property located at 2100 Acushnet Ave. in New Bedford. HRES Acushnet sold the property for $1.9 million. CVS/pharmacy occupies the property.
WORCESTER, MASS. — Kelleher & Sadowsky has arranged the sale of an industrial building located at 100-104 Lamartine St. in Worcester. Accelerated Energy Inc. acquired the 19,892-square-foot property for an undisclosed price. The buyer provides energy savings solutions and services. Will Kelleher, Mark Johns and David Cohen of Kelleher & Sadowsky brokered the transaction. The name of the seller was not released.
BOSTON — KeyBank Real Estate Capital has secured a $10.7 million Freddie Mac first mortgage loan for an apartment building located at 601 Albany St. in Boston. Built in 2009, the building features 40 apartment units, one ground-floor commercial unit and a ground-floor parking garage. Chris Black of Key’s National Multifamily Accounts Group arranged the non-recourse financing with a 10-year, interest-only term. The loan was used to refinance existing debt.
LAWRENCE, MASS. — An affiliate of Trinity Financial has received $17.1 million in financing for the development of an affordable housing community in Lawrence. MassHousing has provided a $14 million conduit bridge loan, $1.2 million in permanent financing and $1.9 million in workforce housing funds for the project. Trinity Financial will transform the former Van Brodie Mill into a 102-unit mixed-income housing community. Designed by ICON Architecture, the property will contain eight studio apartments, 25 one-bedroom apartments, 56 two-bedroom apartments and 13 three-bedroom apartments. Aberthaw Construction is the contractor and Trinity Management will manage the completed property. The adaptive reuse project will preserve the historic former mill, while remediating a brownfield site. Constructed in 1919 by the Arlington Mills company, the Van Brodie Mill originally manufactured yarn for wool and flannel. By the 1950s, the Arlington Mills company has closed and the Van Brodie Mill was operated by a company that shifted production to food products, including packaged breakfast cereals and rations for the military.
PEABODY, MASS. — JLL has brokered the sale of a distribution center located at 1 Technology Drive in Peabody. Normandy Real Estate Partners sold the property to a partnership between AEW and Griffith Properties for $21.7 million. With access to Route 128 and Route 1, the property features 186,591 square feet of distribution and freezer space. Frank Pets and George Gregory of JLL represented the seller in the transaction.
ASHLAND, MASS. — SVN/Parsons Commercial Group/Boston has purchased a retail plaza located at 310 Pond St. in Ashland for an undisclosed price. The plaza features a 31,000-square-foot building and a 5,000-square-foot freestanding building situated at the front of the plaza. Additionally, SVN/Parsons secured a long-term deal with Habitat for Humanity – ReStore to occupy the property. Other tenants include Domino’s. Garrett Quinn of SVN/Parson provided in-house representation for the buyer, while Richard Diamond of The Diamond Group represented the seller, Saxon Partners, in the deal.
WOBURN, MASS. — NKF Capital Markets has arranged the sale of an office building located at 8 Presidential Way in Woburn. Chestnut Realty Management sold the two-story building to an undisclosed buyer for $13.2 million. The 104,000-square-foot building features prominent building signage, efficient floor plates and ample parking. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell, Torin Taylor, Richard Ruggiero, Matthew Adams and Rory Walsh of NKF represented the seller in the transaction.
FRAMINGHAM, MASS. — New Dover Associates has arranged the sale of an office and industrial building located at 101 Bishop St. in Framingham. Green Brick Development acquired the property from Siegal LLC for $4.8 million. Situated on 3.1 acres, the 44,272-square-foot building is fully air conditioned. Scott Hughes and Ted Reimann of New Dover Associates represented the seller and procured the buyer in the deal.
BOSTON — The Davis Cos. has acquired a redevelopment site located at 1515 Commonwealth Ave. in Boston’s Brighton neighborhood. Curahealth/Nautic Partners sold the property for $15.7 million. Christoper Sower, Scott Dragos and Doug Jacoby of Colliers International represented the seller in the deal. Formerly operating as a long-term acute care hospital, the property is a 2.12-acre redevelopment site currently improved with a 58,000-square-foot structure.